The US House Committee has released a draft stablecoin law.
Self-preparations are underway for the regulation and laws of cryptocurrencies in the USA. However, the US House Committee recently published a draft stablecoin law.
US House Committee Ends on Stablecoin Act
After the TerraUSD incident, which shook the crypto industry with a failure story last year, the voices of regulation began to increase in the USA. However, the House Committee has drafted and published a stablecoin bill.
The US House Committee has released the draft version of the Stablecoin Bill. This bill includes a moratorium on stable currencies backed by other cryptocurrencies. Additionally, it contains important regulations regarding stablecoins, including a request to review a central bank digital currency (CBDC).
The draft version of the bill was first reported by Punchbowl News. It was also announced that a hearing will be held on stablecoins like USDC. This hearing will involve USDC, published by Circle Internet Financial, and individuals such as Blockchain Association’s Jake Chervinsky, Columbia Professor Austin Campbell, and New York Department of Financial Services Superintendent Adrienne Harris.
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