The Treasury called on Congress to quickly pass new legislation that would require stablecoins to be issued by insured banks that are overseen by federal banking regulators, in a report issued by the President’s Working Group on Financial Markets.
The Biden administration called on Congress to quickly pass new legislation that would require stablecoins to be issued by insured banks that are overseen by federal banking regulators, in a report issued by the President’s Working Group on Financial Markets on Monday.
Stablecoins like dai DAIUSD, tether USDTUSD and USD coin USDCUSD are a kind of digital asset that pegs its value to the U.S. dollar, and have become widely used to facilitate trading in popular cryptocurrencies, including bitcoin BTCUSD and ether ETHUSD. Their...
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