The US House Financial Services Committee of the US House of Representatives has just released a bill aimed at regulating the activities of stablecoin issuers.
The draft that has been released may not be the final version of the bill, as discussions within the US government will continue.
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The document will be considered at the hearings, which will be held next April 18. These will be attended by Jake Chervinsky, chief policy officer of the Blockchain Association, and Dante Disparte, chief strategy officer at Circle.
According to a note published on the Committee's website, the adoption of a law on "stablecoins" at the federal level will reduce costs for companies involved in their issuance.
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According to the authors, these tools can improve the efficiency of electronic payments, but carry significant risks.
The bill assumes that the US Federal Reserve System (FRS) will control the activities of issuers of centralized stablecoins such as USD Coin (USDC) and Tether (USDT).