U.S. Representative Introduces Draft Bill to Regulate Stablecoins

[NFT_QUEEN]

U.S. Representative Introduces Draft Bill to Regulate Stablecoins

 

The proposed bill would introduce a new "qualified" designation for certain stablecoins that are redeemable one-to-one for U.S. dollars.

 

Key Takeaways

 

• Today, U.S Representative Josh Gottheimer unveiled an early draft of a bill regulating U.S. dollar-backed stablecoins.
• The proposed legislation would designate certain stablecoins as "qualified" and institute traditional deposit insurance on stablecoin holdings.
• Qualified stablecoins would only be issued by banks or non-bank institutions that satisfy certain regulations.

 

https://cryptobriefing.com/u-s-representative-introduces-draft-bill-to-regulate-stablecoins/?utm_source=tradingview_tickers_old&utm_medium=rss

 

Really wish they do it sooner, rather than later so that the Tether FUD is over.