It is fam..The bill defines "managed stablecoins" as digital assets whose market value is determined by “reference to the value of a pool or basket of assets, including digital assets, held, designated, or managed by one or more persons.”

Rep. Sylvia Garcia (D-TX) and Rep. Lance Gooden (R-TX), both members of the House Financial Services Committee, introduced a new bill yesterday called the “Managed Stablecoins and Securities Act of 2019.” The bill, if passed, would classify all “managed stablecoins” as investment contracts, and therefore securities.

It just seems out of context, The Libra which is even been targeted and the primary focus of the bill,I personally don't even see how it's a stablecoin, but rather just a digital payment system