Stablecoin regulation bill submitted to US Congress
Three U.S. congressmen have introduced new legislation to regulate stable cryptocurrencies, including Facebook’s Diem project, formerly known as Libra. Rashida Tlaib, Jesus Garcia and Stephen Lynch were involved in the drafting of the Stable Coin Pegging and Bank Licensing Act (STABLE). The bill should “protect consumers from the risks associated with new digital payment instruments such as Facebook’s Libra and other stablecoins available in the market. It will regulate the issuance of stablecoins and related…
