After seven hours of heated debate Thursday, the House Financial Services Committee was able to pass its stablecoin regulatory framework bill with bipartisan support. The bill — the Clarity for Payment Stablecoins Act — gives more power to state legislators by allowing them to license payment stablecoin issuers. Select Democrats and all committee Republicans voted to advance the bill, and it passed the group in a 34-16 vote Thursday evening. Democrats who voted to pass the bill include Reps. Josh Gottheimer, D-N.J., Ritchie Torres, D-N.Y., and Wiley Nickel, D-N.C.