The House Finally Introduces a Stablecoin Bill, But Will Crypto Opponents Even Come to the Table?
The Breakdown
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The Draft Legislation on Stablecoins
The draft bill would place the Federal Reserve in charge of non-bank stablecoin issuers like Tether and Circle. The issue of how to deal with FDIC insurance for stablecoins was put off for another day. Existing algorithmic stable coins would be allowed to continue to operate under this two-year ban.
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Transcript
