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The Future of Dollar Stablecoins
The US has separate regulatory rules for commodities and securities, requiring approval from both the House Agriculture Committee and the House Financial Services Committee. This is a significant milestone for the ecosystem, but there is still a long way to go. Stablecoin regulation is shifting from questioning their existence to how they should be regulated. Other countries are creating rules for stablecoin issuers, raising the question of whether the US should lead in creating rules for dollar-based stablecoins. The debate has shifted from if stablecoins will exist to when and how they should be regulated. The timing of US legislation will determine market development and potential risks.