However, this new draft outlines provisions related to reserve requirements, classification as securities, and CEO accountability, serving as a starting point for negotiations with Democrats.
The draft bill aims to provide clearer definitions and regulations for payment stablecoins, excluding algorithmic stablecoins. It reiterates that issuers can be subsidiaries of federally insured depository institutions or state or federally-regulated nonbank companies….
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Source: Cryptocurrency - investing.com
