-
Senate stablecoin bill in the works from Sens. Lummis and Gillibrand
U.S. senators Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.) are actively considering the language for a bill that would cover stablecoins, Axios has learned. Why it matters: Stablecoins, cryptocurrencies designed to maintain a consistent price, usually pegged to the dollar, are a $140 billion market, but often cited as risks to U.S. anti-money laundering an counter-terrorism rules. Law that would govern stablecoins has been considered the most likely piece of legislation to pass the U.S. Congress for some time. Between the lines: "Senators Lummis and Gillibrand have been working for several months on a bill ... (full story)