Senate Fast-Tracks Stablecoin Legislation Despite Opposition From Elizabeth W...
For the future of crypto regulation, the US Senate Banking Committee recently advanced the Guiding and Establishing National Innovation for US Stablecoins Act, commonly known as the GENIUS Act, with a bipartisan vote of 18-6. Sponsored by Senator Bill Hagerty (R-Tenn.), the proposed bill seeks to govern stablecoins which can facilitate cheaper and faster transactions […]
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The US Senate is reportedly poised to approve significant legislation regulating stablecoins. This bill, known as the GENIUS Act—an acronym for “Guiding and Establishing National Innovation for US Stablecoins”—marks a pivotal moment for the crypto industry as it seeks to gain legitimacy and instill confidence among consumers. The legislation will soon move to the House […]
On Tuesday, the Senate achieved a significant milestone in cryptocurrency regulation by passing the GENIUS Act, a landmark bill that sets the first federal standards for stablecoins. The legislation, which secured a 68-30 vote, creates a regulated pathway for private companies to issue digital dollars under the federal government’s oversight. New Era For Stablecoin Regulation […]
U.S. stablecoin issuers might soon face liquidity, customer protection and asset reserve rules — and maybe even a deposit-insurance mandate like banks. Regulators around the world have been thinking seriously about the risks associated with stablecoins since 2019 but recently, concerns have intensified, particularly in the United States. In November, the United States’ President’s Working Group on Financial Markets, or PWG, issued a key report, raising questions about possible “stablecoin runs” as well as “payment system risk.” The U.S Senate followed up in December with hearings on....
Following New York's BitLicense implementation a few months back, California is now drafting up its own bitcoin regulation as well. Not surprisingly, this drew plenty of opposition among cryptocurrency enthusiasts in the state. Interestingly enough, there is also a split among those criticizing California's bitcoin regulation. Last week, Coin Center executive director Jerry Brito tried to distance his organization from the Electronic Frontier Foundation (EFF) and the Copia Institute. California Bitcoin Regulation Debate. Back when the draft of AB-1326 was filed in the Senate Committee on....
A bitcoin industry think tank continues to be at odds with digital advocacy groups over their stance on pending legislation in California that seeks to regulate digital currencies. On Friday, Coin Center executive director Jerry Brito sought to distance his organization from the Electronic Frontier Foundation (EFF) and Copia Institute, which are opposing the law, AB-1326, on the grounds that it will harm innovation in current form. The bill, introduced in February, most recently passed the Senate Transportation and Housing Committee in July. The EFF and Copia first made their opposition....