![Chairman Hill at Stablecoins Hearing Chairman French Hill delivers opening remarks at Stablecoins Hearing](https://coingeek.com/wp-content/uploads/2023/04/Chairman-Hill-at-Stablecoins-Hearing-1-380x188.webp)
US stablecoin bills might someday pass, but not this one
Stablecoins were front and center in the House of Representatives' Financial Services Committee hearing last Wednesday, and some of the opinions voiced were more than a little unstable.
Stablecoins were front and center in the House of Representatives' Financial Services Committee hearing last Wednesday, and some of the opinions voiced were more than a little unstable.
First proposed in December, the new regulation was adopted this week and allows the New York Department of Financial Services to charge BitLicense holders for supervision—a practice common in finance.
The proposed regulation is being led by Superintendent Adrienne Harris who is looking for feedback over the next 10 days.
NYSDFS' Harris claims that New York's regulatory initiatives on digital assets and related products proved to be effective in safeguarding investors, thus the need for it to be adopted nationwide.
Adrienne Harris is taking over one of the toughest agencies, but having worked with digital asset companies, she’s expected to be firm but friendly to the industry.
Kathy Hochul, the new governor of New York, has nominated former Obama official Adrienne Harris to head up the New York Department of Financial Services.