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New Stablecoin Bill Raises Concerns Among the Crypto Community
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investopedia.comFor years, the unregulated terrain of cryptocurrencies attracted innovators and hucksters curious about their potential. Now the same landscape is attracting lawmakers.
After the Office of the Comptroller of the Currency (OCC) issued guidance regarding crypto custody to banking institutions in July, a new bill aimed at regulating companies that issue stablecoins was introduced in Congress last week. Unlike the OCC guidance, which received a warm reception, the new bill has riled up the crypto community.
The Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, proposed by three U.S. congressional representatives led by Rep. Rashida Tlaib (D-Mich.), requires stablecoin-issuing companies to obtain a banking charter and follow
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