The US Republican Party has established a Cryptocurrency Working Group in the House and Senate to advance regulatory framework and stablecoin legislation process.

BlockBeats News, February 5th, according to Cointelegraph's report, Republican leaders of the U.S. House and Senate committees announced the formation of a working group focused on developing legislation for digital assets and stablecoins.

During a press conference on February 4th, Arkansas Representative and Chairman of the U.S. House Financial Services Committee, French Hill, stated that lawmakers from four House and Senate committees will jointly form a "bicameral working group" to advance the legislative process for digital currency regulatory framework and stablecoins. The committees involved in this group include the House Financial Services Committee, the House Agriculture Committee, the Senate Banking Committee, and the Senate Agriculture Committee.