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News Explorer — US Senators Renew Push for Stablecoin Legislation

Generated by AI, curated by humans


Apr 17, 5:23 pm
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US Senators Renew Push for Stablecoin Legislation

Senators Cynthia Lummis and Kirsten Gillibrand have introduced new stablecoin legislation in the United States, aiming to establish a comprehensive framework for these crypto assets. The bill includes definitions and rules for firms issuing payment stablecoins, requiring them to conduct activities through subsidiaries. The legislation also prohibits the issuance of algorithmic stablecoins and mandates one-to-one reserves for stablecoin issuers.

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