What You Need to Know About Biden's Stablecoin Report
The Breakdown
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Regulatory Framework for Stable Coins
Congress should require stable coin issuers to be insured depository institutions, which are subject to appropriate supervision and regulation. Congress should also provide the federal supervisor of a stable coin issuer with the authority to require any entity that performs activities critical to the functioning of the stable coin arrangement to meet appropriate risk management standards. To address additional concerns about systemic risk and concentration of economic power, legislation should require stableCoinIssuers to comply with activities restrictions that limit affiliation with commercial entities.
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