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15.11 - 03:19
SEC Looks Set to Unleash Stablecoin Crackdown in US
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After a number of warnings on stablecoins from its chair Gary Gensler, the United States Securities and Exchange Commission (SEC) is reportedly ready to unleash a “crackdown” on stablecoins – and will ask lawmakers to grant it new powers over fiat-pegged tokens.
Bloomberg, quoting anonymous “people familiar with the matter” who had asked “not to be named because discussions are private,” stated that the American Treasury “and other agencies will specify” in a report “expected to be published this week” that the SEC “has significant authority over tokens such as tether (USDT).
More importantly, perhaps, the document will also “also urge Congress to pass legislation specifying coins should be regulated similarly to bank deposits.”
The effort
Read more on cryptonews.comAbout this in other media
DeFi Industry Must Tackle Lack Of Transparency, Pseudonymity: SEC Commissioner cryptonews.com /3 years ago
SEC Commissioner: DeFi must address transparency and pseudonymity cointelegraph.com /3 years ago
XRP lawsuit: Will court’s order to Ripple give the SEC ‘some bullets for its gun’ ambcrypto.com /3 years ago
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