Internet reports that U.S. Representatives French Hill and Bryan Steel have released a discussion draft of a bill that would establish a regulatory framework for U.S. dollar-pegged payment stablecoins. The legislation would impose a two-year ban on the issuance of "endogenous collateralized stablecoins," which means issuers would be prohibited from creating stablecoins backed by self-issued digital assets. In addition, it asked the U.S. Treasury Department to promote research on stablecoins. Before the draft bill was released, the Trump administration had confirmed plans to regulate stablecoins and introduce them domestically. David Sacks, President Trump's cryptocurrency czar, said stablecoins could "expand the dollar's international dominance."