🌋 Stablecoin Oversight Gains Momentum in the U.S.
posted 6 Feb 2024
U.S. Treasury Secretary Janet Yellen has announced that the finance committee has greenlit a bill for federal regulation of stablecoins. This legislation would empower regulators to directly ban the issuance of specific assets by emitters under suspicion of fraudulent activities or other concerns.
The bill represents a significant step, reflecting the Democratic Party's, including Yellen's, long-standing push for federal control. In contrast, the Republicans have traditionally favored expanding local regulatory authorities' powers. Despite these diverging views, a consensus was reached to bring the bipartisan bill to a vote.
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