US House lawmakers are delaying consideration of a bipartisan bill to curb potential risks posed by so-called stablecoins, according to people familiar with the matter, pushing back a vote on the measure for at least several weeks.

The potential deal would have marked the first significant step to apply tougher rules on the cryptocurrency industry, which developed with virtually no regulation. Biden administration officials and a bipartisan group of lawmakers worry that current laws don’t provide comprehensive standards for the new assets and have warned of potential risks to financial stability posed by stablecoins, a type of cryptocurrency intended to be pegged to the dollar or another national currency.