The new bill is a refinement of Rep. Patrick McHenry’s 2023 bill, which has bipartisan support.
United States Senator Bill Hagerty is building on House member Patrick McHenry’s stablecoin legislation. Hagerty has released a discussion draft of the Clarity for Payment Stablecoins Act of 2024, with a few refinements of McHenry’s 2023 bill of the same name. McHenry is retiring at the end of his current term.
Hagerty, a member of the Senate Banking Committee, acknowledged the new legislation’s debt to its predecessor and emphasized its key differences in a statement.
The most dramatic change in Hagerty’s bill, as compared to the 2023 version, concerns the role of states.
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