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Watchdog group says stablecoin bill may facilitate 'crypto abuse'
On Thursday, a bipartisan bill on stablecoins was approved by the U.S. Senate Banking Committee, setting it up to reach a Senate vote in a matter of weeks. But critics contend that the legislation could open the door to “crypto abuse” and corporate overreach. The GENIUS Act (otherwise known as the Guiding and Establishing National Innovation for U.S. Stablecoins Act) aims to provide the country’s first federal regulations for stablecoins — digital assets pegged to stable assets like the U.S. dollar or gold. The stablecoin industry has grown into a $228 billion market. “This is a huge step towards providing ... (full story)
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- Posted: Mar 14, 2:05am (22 hr ago)
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 206
