THELOGICALINDIAN - Stablecoins could account from assertive initiatives of acclimation that helped actuate the Internet in its beforehand canicule according to the baton of the OCC
Stablecoins Scrutinized
“To ensure that stablecoins are accessible and inclusive, I accept a standard-setting action agnate to that undertaken by [the Internet Engineering Task Force] and [World Wide Web Consortium] needs to be established, with representatives, not aloof from crypto/Web3 firms but additionally including academics and government.”
Stablecoins accept been a hot affair of altercation for U.S. regulators and assembly in contempo months. Last December, the U.S. Senate Banking Committee captivated a hearing on stablecoins, and the committee’s armchair Senator Sherrod Brown acclaimed his appearance that stablecoins fabricated it easier for bodies to accident their money on volatile, or alike fraudulent, cryptocurrencies. However, at the House Financial Services Committee’s February hearing, the Congress members’ accord seemed to favor not forcing stablecoin issuers to become insured archive institutions.
Today it was reported that Representative Tom Emmer (R-MN) has drafted legislation that would abode assertive yield-bearing stablecoins beneath the ambit of the SEC.
Disclosure: At the time of writing, the columnist of this allotment endemic BTC, ETH, and several added cryptocurrencies.
