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U.S. Congress to introduce new draft bill for stablecoins

U.S. Congress to introduce new draft bill for stablecoins
Failure to register as a stablecoin issuer could result in up to five years in prison and a fine of $1 million. Issuers out of the United States would have to seek registration to operate in the country.
Circle exec to join US Congressional committee hearing on stablecoin payments, legislation
The Financial Services Committee issued a memorandum to announce an upcoming hearing titled "Understanding Stablecoins' Role in Payments and the Need for Legislation."
US draft bill on stablecoins places issuers like Tether under the Federal Reserve oversight Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A new draft bill that provides a stablecoin framework in the United States will see private issuers such as Circle, the issuer of USDC, and Tether Holding, the firm behind USDT, placed under the Federal Reserve (Fed) oversight. The Fed is […]The post appeared first on Bitcoinmag.
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