Key takes
- Senator Bill Hagati has introduced a genius law to regulate StableCoins with the support of the bondocodies.
- The proposed law requires StableCoin publisher to provide a monthly audit report and meet the preliminary requirements.
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Senator Bill Hagati will introduce legislation on Tuesday, create a stable and comprehensive regulatory framework, and promote the latest Republican Party to establish encrypted policies.
According to Bloomberg reports, the bill proposes a stable payment rule, and the publisher has requested to back the token with US currency, federal preparation system, the Ministry of Finance invoice, and other assets. I am doing it.
Laws known as the guidance and establishment of the US StableCoins (Genius) Act require StableCoin to submit a monthly audit report on reserves, imposing criminal penalties to provide false information. Masu.
The StableCoin market has risen to $ 200 billion, focusing on this transparency, maintaining a market for $ 140 billion in market capitalization.
The status of the tether the market is noted, considering the shares of Cantofitz Gerald's company, considering the following Secretary of Commerce, Howard Lururonic.
This legislative promotion is under the growing concerns about the abilities of tethers and the abilities of stubcoin that can withstand large -scale redemption, and emphasizes the urgency of a clear regulatory director.
According to COINGECKO's data, USDC, the closest competitors, has a market capitalization of $ 54 billion and emphasizes the important size and influence of these publishers in the financial ecosystem.
“My law has established a safe and growing regulation framework that releases innovation and promotes the mission of the President that makes the United States a world capital,” said Hagati.
The bill has gained the support of the bipartisan, and the Senator Kilsten Gilibund, Tim Scott and Cynthia Ramis are co -sponsors.
Based on this law, non -banking stubcoin publishers will be supervised by the Secretary of the Finance Bureau.
This movement promotes dollar -supported stubcoin, opposing Donald Trump's recent executive actions.
Trump's administration is in contrast to the approach that focuses on the execution of former President Joe Biden, shifting from the first encryption skepticism theory.
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