Three Democratic lawmakers introduce a bill that would require stablecoin issuers to obtain a banking charter, approval from the Federal Reserve and FDIC, more
I'm thrilled to share the announcement of @RashidaTlaib's new “Stablecoin Tethering & Bank Licensing Enforcement (STABLE) Act”, (#STABLEAct) cosponsored by @ChuyForCongress & Chair of the House Financial Services Committee's Fintech Task Force, @RepLynch. https://tlaib.house.gov/…
Preventing cryptocurrency providers from repeating the crimes against low- and moderate-income residents of color traditional big banks have is critically important. That's why I'm proud to introduce the #STABLEAct with @RepChuyGarcia and @RepStephenLynch. https://tlaib.house.gov…
Crypto twitter is fired up about the STABLE Act.They really don't like being responsible for trying to synthesize a bank deposit-or providing payments infrastructure for it.We now know how big counterfeiters would defend themselves if physical counterfeiting legislation came now …
1/8 The STABLE Act would represent a huge step backwards for digital currency innovation in the United States, limiting the accelerating progress of both the blockchain and fintech industry.
Centralization of power for a decentralized world. No thanks. This industry has been light years more successful in bringing financial freedom to the unbanked and that happened without cronyism as suggested in this bill. https://twitter.com/...
So you propose to punish crypto companies for the sins of traditional big banks that they never committed, yet reward banks (the actual sinners) with a monopoly on the stablecoin sector. When has less competition and giving banks more power ever lead to more consumer protection? …
this has the OPPOSITE effect cryptocurrencies LOWER the cost of servicing populations that have historically been excluded from the banking sector. raising costs and compliance obligations forces companies to cut access for unprofitable clientele. please, no more clowning 🤡 https…