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Stablecoin Tethering and Bank Licensing Enforcement (STABLE Act)

Short Title: The Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act Stable Act Background: The COVID-19 Pandemic has exposed numerous barriers to accessing and utilizing mainstream financial institutions, leaving many to look to the financial technology sector to meet the financial servicing needs of LMI consumers, such as support for faster direct payments, access to loans, and access to bank accounts. These vulnerabilities could be exploited and obscured by ba December 9, 2020 03:05 PM The STABLE Act stands for Stablecoin Tethering and Bank Licensing Enforcement and was introduced by 3 Democratic Congress Members The chances of the bill passing in its.. Known as the STABLE Act, it will treat stablecoin issuers as banks, requiring them to obtain a banking charter and abide by all the current banking regulations. The Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act was introduced in U.S. Congress by Michigan Democrat Rep. Rashida Tlaib, along with Reps. Jesús Garcia and Stephen Lynch The Stablecoin Tethering and Bank Licensing Enforcement—or STABLE—Act seeks to protect consumers from the risks posed by emerging digital payment instruments, such as Facebook's Libra and other Stablecoins currently offered in the market, by regulating their issuance and related commercial activities, its sponsors said in a release

The stablecoin industry recently hit a market cap of US$25 billion, and along with that has come proposed legislation that would require issuers to obtain a banking charter in addition to FDIC insurance and deposits with the U.S. Federal Reserve that are 1:1 with every token issued.. At first glance, the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act might seem like a. The wording of the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, is open enough to include everyone from issuers —even if the issuer is a smart contract like with Dai— to exchanges, and even those running the open source Ethereum software, as it will inevitably process transactions that include stablecoin trades That's the subject of the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, a bill introduced last month to protect consumers from the risks posed by emerging digital payment instruments, such as Facebook's Libra and other stablecoins currently offered in the market Congresswoman Rashida Tlaib targets Facebook's Diem and other Global Stablecoins with the Stablecoin Tethering and Bank Licensing Enforcement Act. On December 2, 2020, three members of the U.S. Congress issued a press release concerning the introduction of the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act

Der Entwurf trägt den Namen The Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act. Alle Informationen zu dem Entwurf können unter folgendem Link eingesehen werden: Stable Act. Worum geht es nun in dem vorgelegten Entwurf zur Regulierung von Stablecoins WASHINGTON—This week, Congresswoman Rashida Tlaib (MI-13), along with Congressmen Jesús Chuy García (IL-04) and Chairman of Task Force on Financial Technology Rep. Stephen Lynch (MA-08), introduced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, which would protect consumers from the risks posed by emerging digital payment instruments, such as Facebook's Libra and other Stablecoins currently offered in the market, by regulating their issuance and related.

U.S. House Dems Propose Crypto Regulation Through 'STABLE Act

  1. U.S. Representatives Rashida Tlaib (D-Mich.), Jesús Chuy García (D-Ill.) and Stephen Lynch (D-Mass.) introduced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act on.
  2. The new bill seeks to make stablecoins illegal without approvals from relevant government bodies. Dubbed 'Stablecoin Tethering and Bank Licensing Enforcement' (STABLE) Act, the new bill requires the potential issuer of a stablecoin to gain approvals from the FED, Federal Deposit Insurance Corporation (FDIC) and relevant banking bodies
  3. A trio of Democratic lawmakers has introduced a bill that would regulate stablecoins, including Facebook's Diem (formerly Libra). Congresswoman Rashida Tlaib, along with Rep. Jesús Chuy García and Rep. Stephen Lynch, announced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act . I'm thrilled to share the announcement of.
  4. Tag: Stablecoin Tethering and Bank Licensing Enforcement (Stable) Act New Draft U.S. Law Will Make It Illegal to Issue Stablecoins Without Federal Reserve Approval Dec 4, 202
  5. The Stablecoin Tethering and Bank Licensing Enforcement Act (STABLE) would amend the current Federal Deposit Insurance Act, to regulate stablecoin issuance and other commercial activities

What Is the STABLE Act? The Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, proposed by three U.S. congressional representatives led by Rep. Rashida Tlaib (D-Mich.), requires.. Rohan Grey, the legal scholar who helped draft the controversial Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act with Congresswoman Rashida Tlaib, wants you to know that he cares about anonymous digital cash—but he's not about to give a free pass to those who he believes pose a systemic risk to the US monetary system The STABLE Act aims to protect low-income families who invest their money in stablecoins and who may be left defenseless as companies responsible for issuing tokens do not follow the same rules as regular banks, even when they provide similar services Examining the STABLE Act Proposal, Part I. A controversial legislative proposal for the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act was recently announced by members of Congress, which could have extensive implications for digital assets if the bill were signed into law. Our two-part series will examine the STABLE Act.

US Congress seeks to regulate stablecoins with new STABLE Ac

  1. Members of the US Congress announced on December 2 the proposal of a new consumer protection bill to increase the oversight and regulation of existing stablecoin issuers, potential stablecoin issuers, and stablecoin-related service providers. The Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, seeks to provide protection to unbanked and underbanked communities from fair.
  2. The Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, would protect consumers from the risks posed by emerging digital payment instruments, such as Facebook's Libra and other stablecoins currently offered in the market, by regulating their issuance and related commercial activities
  3. Rhashida Tlaib schreibt auf ihrer Webseite, der Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act solle Verbraucher vor den Risiken schützen, die ihnen durch aufstrebende digitale Zahlungsinstrumente wie Facebooks Libra oder andere Stablecoins aufgebürdet werden, indem er die Herausgabe und die damit verbundenen kommerziellen Aktivitäten reguliert
  4. United States Representatives Rashida Tlaib (D-Mich.), Jesús Chuy García (D-Ill.) and Stephen Lynch (D-Mass.) introduced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act on Wednesday, Dec. 2. The new US congressional bill would require stablecoin issuers to secure federal approval and secure bank charters in order to circulate their tokens
  5. On December 2, 2020; Congresswoman Rashida Tlaib, along with Rep. Jesus Chuy Garcia and Rep. Stephen Lynch, introduced the new Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, a bill that essentially orders all stablecoin issuers —such as Tether for USDT or Circle for USDC— to have a banking charter and be licensed by multiple federal agencies before they can even.

This week, US Congresswoman Rashida Tlaib, with Congressmen Jesús Chuy García and Chairman of Task Force on Financial Technology Rep. Stephen Lynch, introduced the so-called '<b>Stablecoin Tethering and Bank Licensing Enforcement ( STABLE). Presented by lawmakers Rashida Tlaib, Jesus Garcia, and the Chairman of the Special Forces on Financial Technology Stephen Lynch, the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act introduces a series of strict measures for stablecoins and their issuers. It aims to protect consumers from emerging risks from emerging payment instruments

Dubbed 'Stablecoin Tethering and Bank Licensing Enforcement' (STABLE) Act, the new bill requires the potential issuer of a stablecoin to gain approvals from the FED, Federal Deposit Insurance Corporation (FDIC), and relevant banking bodies. According to the official press release, any person involved in the issuance of a stablecoin or related product without the written approvals from. The STABLE ACT. The Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, which claims to protect consumers, has recently come up against serious scrutiny from the cryptocurrency community. Proponents of the bill say that it is necessary to regulate stablecoins because they act like money, while opponents say that the bill stymies innovation by placing erroneous regulations on. The STABLE Act - Stablecoin Tethering and Bank Licensing Enforcement Act- intends to regulate the issuance of stablecoins in the United States. Issuers of stablecoins assimilated to banks? The STABLE Act intends to regulate the issuance of stablecoins by requiring the obtaining of a banking license before even considering the launch of a stablecoin. The stated aim of this proposed law would. The 'Stable Tethering and Banking License Enforcement Act The most popular and oldest stablecoin is Tether (USDT). Launched in 2014, USDT is a stablecoin with a value tethered to the US dollar. It is used as the denomination for nearly every USD-based trading pair on almost every single cryptocurrency exchange, dominating the stablecoin space for most of its 6-year existence. Today, USDT.

In early December 2020, the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act bill was proposed to regulate stablecoin and its issuing. If passed, it will require issuers to be chartered like a bank, register with the Federal Reserve, and hold the required minimum Federal Deposit Insurance Corporation reserves Source: AXL - Shutterstock Der STABLE Act zielt auf die Anwendung strenger Maßnahmen für Stablecoins ab, die sich auf die Einführung von Bitcoin auswirken könnten. Das Gesetz könnte für die Kryptoindustrie in den USA einen weiteren Rückschritt bedeuten. Bitcoin hält sich gegenwärtig oberhalb der wichtigen 19.000-Dollar-Marke This week, US Congresswoman Rashida Tlaib, with Congressmen Jesús Chuy García and Chairman of Task Force on Financial Technology Rep. Stephen Lynch, introduced the so-called 'Stablecoin Tethering and Bank Licensing Enforcement Act,' aka the 'Stablecoin Classification and Regulation Act of 2020. A controversial legislative proposal for the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act was recently announced by members of Congress, which could have extensive implications for digital assets if the bill were signed into law Stablecoins face increasing regulatory pressure across the pond. In Dec. 2020, the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act was introduced in the U.S. Congress. It similarly dictates capital and liquidity requirements. The legislation would require any issuer of a stablecoin to acquire a banking charter

STABLE Act could destabilize stablecoins Modern Consensus

Joe Lubin and other crypto leaders decry the STABLE Ac

  1. On December 2, 2020; Congresswoman Rashida Tlaib, along with Rep. Jesus Chuy Garcia and Rep. Stephen Lynch, introduced the new Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, a bill that essentially orders all stablecoin issuers —such as Tether for USDT or Circle for USDC— to have a banking charter and be licensed by multiple federal agencies before they can even think about issuing a token
  2. And yesterday, 2 December, a group of Democratic legislators from the US House of Representatives announced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act. If an institution issues tokens backed by a reserve, then it will be required to register as a bank. [ Press release; act, PDF
  3. Introduced by three congressional Democrats, the STABLE Act, if implemented in its current state, could mark a dramatic turning point for crypto. Known in full as the Stablecoin Tethering and Bank Licensing Enforcement Act, the bill requires potential stablecoin issuers to get approvals from US authorities. Without approvals from the relevant government authorities, a stablecoin would become.

US Regulators Propose Stablecoin Crack Down With STABLE Ac

Washington, DC - This week, Congressman Jesús Chuy García (IL-04), Congresswoman Rashida Tlaib (MI-13), and Chairman of Task Force on Financial Technology Rep. Stephen Lynch (MA-08), introduced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, which would protect consumers from the risks posed by emerging digital payment instruments, such as Facebook's Libra and other stablecoins currently offered in the market, by regulating their issuance and related. A clue to why these lawmakers believe stablecoin regulation might be required can be found in the eponymous bill's title: Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act. Despite Facebook's proposed Libra — recently renamed Diem — being in the news lately, the lawmakers' intended goal may be to reel in the tether around an even more controversial stablecoin: Tether In a recent blog post, the cross-border crypto asset investment firm executive says the proposed Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act would be a big step back for the emerging sector of the crypto market Congresswoman Rashida Tlaib has introduced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, which apparently embraces innovation while protecting consumers. According to the official document, the use of stablecoins and other cryptocurrencies presents unique challenges while raising the same core fair lending risks present in the traditional market

A new U.S. Congressional bill would require stablecoin issuers to secure bank charters and secure regulatory approval prior to circulating any stablecoins. U.S. Representatives Rashida Tlaib (D-Mich.), Jesús Chuy García (D-Ill.) and Stephen Lynch (D-Mass.) introduced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act on Wednesday, writing in a press release that it. I'm thrilled to share the announcement of @RashidaTlaib 's new Stablecoin Tethering & Bank Licensing Enforcement (STABLE) Act, (#STABLEAct) cosponsored by @ChuyForCongress & Chair of the House Financial Services Committee's Fintech Task Force, @RepLynch. Tlaib, García and Lynch Introduce Legislation Protecting Consumers from Cryptocurrency-Related Financial Threats WASHINGTON—This week. The legislation, under the name the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, sets out a fresh and extremely expansive definition of stablecoin On December 2, a group of Democratic legislators from the US House of Representatives introduced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act that requires any institution.. Today, Congresswoman Rashida Tlaib announced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, which is co-sponsored by Representative Jesús Chuy García and Representative Stephen Lynch. The proposed bill, which has almost no shot of becoming law, riled up cryptocurrency enthusiasts on Wednesday night. That's because the bill, which takes direct aim at stablecoin.

America says banks can now transact using so-called stable

  1. Newly-proposed federal legislation would require all issuers of stablecoins and certain other digital asset companies to obtain a bank charter as a condition to operation. Referred to as the Stablecoin Tethering and Bank Licensing Enforcement Act, the draft legislation is intended to shift certain digital currency activities into the regulated banking framework
  2. A new US congressional bill would force stablecoin issuers to obtain bank charters and regulatory approval, sparking fears that fintech innovation could be stifled. Representatives Rashida Tlaib, Jesús Chuy and Stephen Lynch, all Democrats, introduced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act on Wednesday. Their press release said it would regulate stablecoins.
  3. The Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act would require stablecoin issuers - like Tether, Centre or Diem (formerly Libra) - to apply for federal banking charters.
  4. A bill introduced in Congress aims to regulate stablecoins. The bill is called The Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act. The bill aims to regulate the companies issuing.
  5. A group of U.S. Representatives has unveiled a new piece of stablecoin-focused legislation called the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act. GENERAL-NEWS. Close. 9 1 19. Posted by. Tin. 3 days ago. A group of U.S. Representatives has unveiled a new piece of stablecoin-focused legislation called the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act.
  6. This week, U.S. Representatives Stephen Lynch (D-Mass.), Jesús Chuy García (D-Ill.), and Rashida Tlaib (D-Mich.) introduced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE.

U.S. Congresswoman Rashida Tlaib introduced the Stablecoin Tethering & Bank Licensing Act (STABLE Act), legislation purported to protect consumers from the risks posed by emerging digital payments. The Act made specific reference to Facebook's currency Libra, though it would also apply to privately-issued stablecoins like those commonly used on Ethereum. The Act was plotted with the. Keeping this in mind, Congress proposed the STABLE Act. This act which is an acronym for Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, intends to regulate the stablecoin market as the members entering the market have been on a surge. Elaborating on the same, Congresswoman Tlaib said, [] the protections the STABLE Act would make possible are more needed than. US lawmakers want stablecoin issuers to get bank charters before they start operating as S&P DJI plans to launch crypto indexes in 2021 On December 2, 2020, US Representatives Jesús Chuy García (D-Ill.), Rashida Tlaib (D-Mich.), together with Stephen Lynch (D-Mass.) introduced a comprehensive version of the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act

Gemäß dem Gesetzesentwurf Stablecoin Tethering and Bank Licensing Enforcement (STABLE) bräuchten Stablecoins künftig die Genehmigung durch mehrere Institutionen, da sie ansonsten als illegal gelten würden. Stehen Tether (USDT) und Co. wirklich vor einem Stablecoin Verbot in den USA? Stablecoin Verbot: Tether und Co. ohne Genehmigungen illegal. Es war absehbar. Die USA möchten ein. The Stablecoin Tethering and Bank Licensing Enforcement, or in short, the STABLE Act, is a bill passed by the US Congress aiming to regulate the stablecoin activities by shifting them into the regulated banking framework. It was proposed by three U.S. congressional representatives headed by Rep. Rashida Tlaib. According to her: Preventing cryptocurrency providers from repeating the crimes. Congresswoman Rashida Tlaib, Congressmen Jesús García, and Chairman of Task Force on Financial Technology Rep. Stephen Lynch introduced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act. The purpose of this proposal is to protect the consumer from the risks they may experience while buying and selling cryptocurrencies. In the article, they give examples of Facebook.

Global Stablecoins Become Regulatory Battlegroun

Congresswoman Rashida Tlaib announced today the Stablecoin Tethering and Bank Licensing Enforcement Act (STABLE), which is jointly sponsored by Representative Jesús Chuy García and Representative Stephen Lynch. The proposed bill, which has almost no chance of becoming law, angered cryptocurrency enthusiasts on Wednesday night. That's because the bill, which is aimed directly at. The legislation, under the name the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, sets out a fresh and extremely expansive definition of stablecoin. It furthermore dictates a series of limitations that outlaw stablecoin issuance for any entity that is not an insured depository institution that is a member of the Federal Reserve System Spread the love But the bill is unlikely to become law any time soon. On Wednesday night, Congresswoman Rashida Tlaib introduced a bill before the U.S. House of Representatives looking to make fiat-pegged stablecoin operators abide by the same rules and registration requirements expected of banks. The legislation, under the name the Stablecoin Tethering and [

The Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act was introduced in U.S. Congress by Michigan Democrat Rep. Rashida Tlaib, along with Reps. Jesús Garcia and Stephen Lynch The STABLE Act: Paving the Way or Blocking the Road? The first week of December, Congresswoman Rashida Tlaib (MI-13), along with Congressman Jesus Chuy Garcia (IL-04) and Chairman of Task Force on Financial Technology Rep. Stephen Lynch (MA-08) introduced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) ActLinks to an external site. The Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act proposed on Dec. 2, 2020, aims to protect consumers from stablecoin-related financial threats. The legislation would require all stablecoin issuers to acquire a banking charter, approval from the federal government, FDIC approval, and appropriate banking agency approvals, before launching a product with a ready-to-convert into USD option for users The STABLE Act, which stands for Stablecoin Tethering and Bank Licensing Enforcement. Under the guise of protecting people it will require stablecoin issuers to obtain a banking charter. Meaning, only banks will be able to issue stablecoins. There are four major provisions in the bill: Require any prospective issuer of a stablecoin to obtain a banking charter; Require that any company. On Dec 2, 2020, Rashida Tlaib, Jesus Garcia, and Stephen Lynch, three congresspeople, introduced the Stablecoin, Tethering, and Bank licensing Enforcement (STABLE) Act. The bill, which was written in November, acknowledges the use cases for digital currency, especially during the social distancing caused by the COVID-19 pandemic

US Lawmakers Want STABLE Act to Force Stablecoin Issuers to Secure Bank Charters. Lucas Cacioli Dec 03, 2020 06:00 which seeks to impose federal control over the entire stablecoin industry and would mandate token issuers to secure bank charters.. The legislative initiative is called the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act. The aim of the three politicians is to curb the risks posed by new digital payment systems such as stablecoins, particularly those offered by private individuals such as Facebook. The official press release refers to the Libra project, which no longer exists and has been renamed as Diem.

United States Expense Would Certainly Call For Stablecoin

Tether (USDT) Verbot in den USA? - Neues Gesetz könnte

A controversial legislative proposal for the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act was recently announced by members of Congress, which could have extensive implications for digital assets if the bill were signed into law. Our two-part series examines the STABLE Act Discussion Draft, those endorsing the potential legislation, reactions from the digital assets community, what the bill could mean for node operators, and more. This piece, Part II, starts with an. Passenderweise STABLE Act genannt (kurz für Stablecoin Tethering and Bank Licensing Enforcement) , fordern Kongressabgeordnete bereits die Bändigung von Stablecoins durch neue Gesetze. Jeder, der einen Stablecoin am US-Markt anbieten will, soll künftig eine Banklizenz und eine Zulassung durch die Federal Deposit Insurance Corporation, den Einlagensicherungsfonds der Vereinigten.

Tlaib, García and Lynch Introduce Legislation Protecting

The Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, seeks to provide protection to unbanked and underbanked communities from fair lending risk and other consumer protection.. On Wednesday night, Congresswoman Rashida Tlaib introduced a bill before the U.S. House of Representatives looking to make fiat-pegged stablecoin operators abide by the same rules and registration requirements expected of banks. The legislation, under the name the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, sets out a fresh and extremely expansive definition of [ This week, US Representatives Stephen Lynch, Jesus Chuy and Rashida Tlaib introduced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act. The representatives insist the stablecoin bill is aimed at protecting consumers from cryptocurrency-related financial threats If Tether goes down, it will take Bitcoin with it A new legislative piece dubbed the 'Stablecoin Tethering and Bank Licensing Enforcement' (STABLE) Act, has been presented at the US Congress to.. A new U.S. Congressional bill would require stablecoin issuers to secure bank charters and secure regulatory approval prior to circulating any stablecoins.U.S. Representatives Rashida Tlaib (D-Mich.), Jesús Chuy García (D-Ill.) and Stephen Lynch (D-Mass.) introduced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act on Wednesday, writing in a press release that it.

US Bill Would Require Stablecoin Issuers to Get Bank

US Congresswoman Introduces the STABLE Act to Ban Illegal

Titled 'Stablecoin Tethering and Bank Licensing Enforcement (Stable) Act,' the draft law has drawn widespread criticism from cryptocurrency proponents, with many looking at it as a brazen attempt to stifle technological development. But sponsors of the bill have a different conviction. Tlaib argues that the planned law would protect consumers from the risks posed by emerging digital payment instruments, such as Facebook's Libra and other stablecoins currently offered in the market. Brought to you by lawmakers Rashida Tlaib, Jesus Garcia, and Financial Tech Special Forces Chairman Stephen Lynch, Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act introduced a series of strict measures for stablecoins and their issuers. It aims to protect consumers from emerging risks associated with emerging payment instruments If passed, the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, would require stablecoin issuers to apply for bank charters, get approval from the Federal Reserve and hold FDIC insurance. (The bill, press release.) Stablecoin issues are like wild cat banks

New Congressional Bill Seeks to Regulate Stablecoins - Decryp

Referred to as the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, the draft legislation is intended to shift certain digital currency activities into the regulated banking framework. The one-pager on the STABLE Act states that cryptocurrency should not [be] beyond the reach of fair lending laws and regulation and that [i]t is critical not to let Wall Street and. Whoever said Bitcoin was beyond politics clearly didn't know what happens when politicians try to regulate crypto. On Wednesday, Congresswoman Rashida Tlaib announced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act , a proposed bill that said anyone who ran a stablecoin would require a banking charter approved by the Federal Reserve But the bill is unlikely to become law any time soon. On Wednesday night, Congresswoman Rashida Tlaib introduced a bill before the U.S. House of Representatives looking to make fiat-pegged stablecoin In particular, US representatives Rashida Tlaib (D-Mich.), Jesús Chuy García (D-Ill.) and Stephen Lynch (D-Mass.) introduced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, which focuses mainly on regulating stablecoins like Facebook's Libra The Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act introduced by congresswoman Rashida Tlaib before the US House of Representatives is trying to make fiat-pegged stablecoin operators abide by the same rules and registration requirements expected of banks. This does not only affect stablecoins but the whole DeFi industry, as it would potentially make much of DeFi trading and.

Congresspeople speak out against Tlaib&#39;s anti-stablecoinGlobal Stablecoins Become Regulatory Battleground

Stablecoin Tethering and Bank Licensing Enforcement

On December 2, a group of Democratic legislators from the US House of Representatives introduced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act that requires any institution that issues tokens backed by a reserve asset to be registered with the banking authority. If the bill is enacted, USDT will be cooked as there is virtually no chance Tether will get the banking license Yesterday a disastrous new bill was introduced to congress: The STABLE Act, which stands for Stablecoin Tethering and Bank Licensing Enforcement. Under the g..

U.S. bill proposes only banks should issue stablecoins ..

US lawmakers have introduced a new bill to Congress which seeks to impose federal control over the entire stablecoin industry and would mandate token issuers to secure bank charters. United States Representatives Rashida Tlaib (D-Mich.), Jesús Chuy García (D-Ill.) and Stephen Lynch (D-Mass.) introduced the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act on Wednesday. Washington, D.C. —This week, U.S. Representative Stephen F. Lynch (MA-08), Chair of the Task Force on Financial Technology, U.S. Representative Rashida Tlaib (MI-13), and U.S. Representative Jesús Chuy García (IL-04) introduced H.R. 8827, the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, which would protect consumers from the risks posed by emerging digital. On December 2, 2020, three members of the U.S. Congress issued a press release concerning the introduction of the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, which they touted as a consumer protection statute. The proposed legislation seeks to increase the oversight and regulation of stablecoins. The STABLE Act would: Require any prospective issuer of a stablecoin to obtain a banking charter;Require that any company offering stablecoin services must follow the. Im US-Kongress wurde vor kurzem ein Vorschlag für ein Gesetz zur Regulierung von Stablecoins eingebracht. Das Gesetz möchte Stablecoins auf dieselbe Weise regulieren wir Bankeinlagen. Die Krypto-Branche reagiert wenig erfreut - und fürchtet gar die Kriminalisierung von Ethereum-Knoten. Im US-Kongress hat die Demokratin Rashida Tlaib den sogenannten STABLE Act eingebracht:..

New Stablecoin Bill Raises Concerns Among the Crypto Communit

The proposal, which is titled the 'Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act', was put forth with the goal of 'protecting consumers from the risks posed by emerging digital payment instruments, such as Facebook's Libra and other Stablecoins,' On Wednesday night, Congresswoman Rashida Tlaib introduced a bill before the U.S. House of Representatives looking to make fiat-pegged stablecoin operators abide by the same rules and registration requirements expected of banks.. The legislation, under the name the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, sets out a fresh and extremely expansive definition of.

USA, strict regulation for stablecoins - Bitcoin PrivateThis Legislation Would BAN &quot;Illegal&quot; Stablecoins! - Coinivore
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