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Biden administration calls on Congress to take the lead regulating stablecoins

“If well-designed and appropriately regulated, stablecoins might assist sooner, extra environment friendly, and extra inclusive funds choices,” the report says. Nevertheless it notes that stablecoins additionally current “a wide range of dangers” and that there are “key gaps” in regulators’ means to handle them. “The speedy progress of stablecoins will increase the urgency of this work. Failure to behave dangers progress of fee stablecoins with out enough safety for customers, the monetary system, and the broader economic system.”

https://www.washingtonpost.com/enterprise/2021/11/01/stablecoin-crypto-regulation/?utm_source=rss&utm_medium=referral&utm_campaign=wp_business | Biden administration calls on Congress to take the lead regulating stablecoins

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