Maxine Waters, the Democratic leader of the US Financial Services Committee, predicted on Wednesday that she and Chairman Patrick McHenry will soon reach an agreement on stablecoin regulation legislation.

Waters said in an interview that they are striving to reach a stablecoin bill in the short term, and have discussed stablecoins with Senate Majority Leader Chuck Schumer and Senate Banking Chairman Sherrod Brown, and that the Federal Reserve, Treasury Department, and White House have all provided input for drafting the bill.