House Financial Services Committee advanced the STABLE Act (Stablecoin Transparency and Accountability for a Better Ledger Economy Act), the House's own stablecoin legislation, out of committee for full House consideration

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Meanwhile, the House Financial Services Committee advanced its own stablecoin legislation, the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act, out of its committee. It has yet to be brought to a full vote in the House.

The House must now pass the bill before it can be signed into law. While Senate Republicans have called for it to be enacted by July 4, House Republicans are weighing whether to fold it into broader crypto market legislation to improve its chances.Among them, the House Republicans are pushing their own stablecoin bill, the STABLE Act.