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Sens. Cynthia Lummis and Kirsten Gillibrand on the Responsible Financial Innovation Act

The Breakdown

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Cryptocurrency Regulations

In order for a stable coin to succeed in the us. Economy, it's going to have to be a hundred % hard currency asset, backed or insured by the f d i c. We've attempted to look at a whole variety of instruments, from s tancelary assets,. things that are pretty clearly commodities, like bit coin and etherium. But we have very sophisticated businesses in new york city who want to be broker dealers... They need proper regulations so they can offer these services world wide.

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