A proposed bill in the US Senate, called the Lummis-Gillibrand Payment Stablecoin Act, could positively impact stablecoin issuers according to TD Cowen’s analysis. Senators Kirsten Gillibrand and Cynthia Lummis introduced this legislation, which includes clear guidelines. Issuers must keep reserves equal in value to the stablecoins they issue (1:1 ratio), and algorithmic stablecoins are banned.
TD Cowen believes that the proposed crypto regulation bill in Congress is a significant step forward, benefiting the crypto industry. If passed, it could allow banks and stablecoin issuers to collaborate. However, the bill’s approval might face challenges, such as securing support from Congress.
In the House, Representative Patrick McHenry and Representative Maxine Waters are engaged in talks over a potential regulatory framework for stablecoins. TD Cowen proposes a possible solution akin to the Senate bill as a compromise. However, organizations such as Coin Center voice apprehensions, primarily about the suggested prohibition of algorithmic stablecoins. They argue that this ban could be unconstitutional.
Read More
- Ludus promo codes (April 2025)
- Cookie Run: Kingdom Topping Tart guide – delicious details
- Unleash the Ultimate Warrior: Top 10 Armor Sets in The First Berserker: Khazan
- Cookie Run Kingdom: Shadow Milk Cookie Toppings and Beascuits guide
- Grand Outlaws brings chaos, crime, and car chases as it soft launches on Android
- Grimguard Tactics tier list – Ranking the main classes
- Fortress Saga tier list – Ranking every hero
- Tap Force tier list of all characters that you can pick
- ZEREBRO/USD
- Val Kilmer Almost Passed on Iconic Role in Top Gun
2024-04-23 00:36