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Bill to establish stablecoin regulatory framework passes Senate
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Bill to establish stablecoin regulatory framework passes Senate
The Senate advanced a bill earlier this week to establish a regulatory framework for stablecoin issuers. The bill, which offers a path for banks to issue payment stablecoins, would establish a regulatory framework for stablecoin reserves, risk management and reporting. Under the law, stablecoin issuers would be required to keep reserves backing their tokens. The bill also defines the status of stablecoins under securities law, and would place i…
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