House lawmakers said to delay bipartisan stablecoin bill until September

The new bipartisan stablecoin-focused bill under negotiation at the U.S. House Financial Services Committee is getting delayed until Congress returns from its summer break in September, The Wall Street Journal reported Monday, citing people with knowledge on the matter.The potential agreement would be a solid first step towards a stricter oversight of stablecoins. Increased regulatory scrutiny on these digital representations of "stable" assets comes after the multi-billion dollar collapse of algorithmic stablecoin TerraUST (UST-USD).Chairwoman Maxine Waters (D., Calif.) and Patrick McHenry (R., N.C.) were said to have failed to finish work on the draft bill ahead of a planned committee vote initially scheduled for July 27.In the cryptocurrency world, Rostin Behnam, chairman of the Commodities Futures Trading Commission earlier introduced a new technology innovation unit that would further enhance the agency's oversight of digital tokens.Previously, (July 20) House policymakers close in on bipartisan deal to regulate stablecoins.