2 years ago
U.S. Representative Josh Gottheimer (D-N.J.) has introduced a measure that would found government-backed security for stablecoins.
The measure would designate definite stablecoins arsenic "qualified," making them redeemable connected a one-to-one ground for U.S. dollars.
Both slope and non-bank fiscal institutions would contented them taxable to their gathering definite conditions connected reserve requirements with currency collateral held successful a segregated Federal Deposit Insurance Corporation (FDIC)-insured account.
The Office of the Comptroller of the Currency (OCC) would besides person oversight of stablecoin issuers and contented rules connected leverage ratios, auditing requirements, anti-money laundering/know-your-customer compliance and truthful on.
The Senate Banking Committee is acceptable to conscionable contiguous for its ain proceeding connected stablecoins.
UPDATE (Feb. 15. 16:12): Removes nexus to Politico communicative and "report" from headline, and restructures 3rd and 4th bullets.
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