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Fortune
Fortune
Leo Schwartz

The failure of the stablecoin bill reveals the new political divide in crypto

Crypto Maxine Waters Patrick McHenry Leo Schwartz Leo Schwartzleoschwartzfortunecomleomschwartz New York DFS the House Financial Services Committee White House
Woman wearing white suit jacket sitting in front of a podium (Credit: Anna Moneymaker—Getty Images)

Proof of State is the Wednesday edition of Fortune Crypto where Leo Schwartz delivers insider insights on policy and regulation.

Legislative markups don’t always make for compelling TV, although last week’s showdown at the House Financial Services Committee certainly created its memorable moments. At least that’s how I experienced it—I was blissfully on vacation and couldn’t tune in to the full marathon sessions. A special shoutout to Brendan Pedersen at Punchbowl News, who meticulously covered the hearings.

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