US policy makers identified stablecoins as an initial target for regulation, asking lawmakers to pass legislation that would treat stablecoin issuers like banks
Digital assets tied to the dollar could pose risk to broader financial system, policy makers say Tweets: @ronwhammond , @jessmarindavis , and @dizer_ym Tweets: Ron Hammond / @ronwhammond : “It's helpful to have that competition, to have that innovation,” said Ron Hammond, the association's director of government affairs. Thanks again @aduehren for chatting with me about the future of stablecoin legislation! https://twitter.com/... JMDavis / @jessmarindavis : The proposal suggests that stablecoins should be regulated like banks (i.e. ensure they have some assets to back them up). Timely article given the ongoing debate around Tether.... https://www.wsj.com/... Yassin Mobarak / @dizer_ym : There is a defining period in every nascent industry in which its future is defined. We are firmly entering that period. The course of crypto growth will be shaped by the conversations taking place now in the halls of govts & financial institutions. https://www.wsj.com/...