US Congress to introduce new draft bill for stablecoins By Cointelegraph
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A new draft bill providing a framework for stablecoins in the United States was published in the House of Representatives document repository a few days before a scheduled hearing on the topic on April 19. The draft puts the Federal Reserve in charge of non-bank stablecoin issuers, such as crypto firms and Circle, respectively, issuers of Tether (USDT) and (USDC).
Stablecoins are a class of cryptocurrencies that attempt to offer investors price stability by being backed by specific assets or using algorithms to adjust their supply based on demand. Stablecoins were introduced in 2014 with the release of BitUSD.
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© Reuters.
A new draft bill providing a framework for stablecoins in the United States was published in the House of Representatives document repository a few days before a scheduled hearing on the topic on April 19. The draft puts the Federal Reserve in charge of non-bank stablecoin issuers, such as crypto firms and Circle, respectively, issuers of Tether (USDT) and (USDC).
Stablecoins are a class of cryptocurrencies that attempt to offer investors price stability by being backed by specific assets or using algorithms to adjust their supply based on demand. Stablecoins were introduced in 2014 with the release of BitUSD.
Continue Reading on Coin Telegraph
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