Stablecoin

United

<ul class="news-points">
 <li>US Senators Kirsten Gillibrand and Cynthia Lummis introduced a new stablecoin bill.</li>
 <li>The bill is named “bipartisan Lummis-Gillibrand Payment Stablecoin Act.”</li>
 <li>The goal is to establish a new set of regulations for stablecoin issuers.</li>
</ul>
Junior United States senators from New York and Wyoming, Kirsten Gillibrand and Cynthia Lummis have introduced a new stablecoin <a href="https://www.gillibrand.senate.gov/wp-content/uploads/2024/04/LIP24254.pdf" target="_blank" rel="noopener noreferrer nofollow">bill</a> in the country to bring clarity in the digital asset space.&nbsp;
In a press release, the lawmakers <a href="https://www.gillibrand.senate.gov/news/press/release/lummis-gillibrand-introduce-bipartisan-landmark-legislation-to-create-regulatory-framework-for-stablecoins/" target="_blank" rel="noopener noreferrer nofollow">stated</a> that they have introduced the “bipartisan Lummis-Gillibrand Payment Stablecoin Act” in the United States to establish comprehensive regulations that aim to protect consumers, enable innovation and promote U.S. dollar dominance while preserving the dual banking system.&nbsp;
<blockquote class="wp-block-quote">
 “Passing a regulatory framework for stablecoins is critical to protecting consumers, promoting responsible innovation, and cracking down on money laundering and illicit finance,” <a href="https://twitter.com/gillibrandny/status/1780567473386909881" target="_blank" rel="noopener noreferrer nofollow">said</a> Gillibrand in an X post.
</blockquote>
A one-page <a href="https://www.gillibrand.senate.gov/wp-content/uploads/2024/04/LGPSA-One-Pager1.pdf" target="_blank" rel="noopener noreferrer nofollow">explanation</a> of the bill noted that following the collapse of digital asset trading platform FTX, “proper custody practices for issuers are essential.” As a result, the new stablecoin bill will prev…
The post <a href="https://coinedition.com/us-lawmakers-bring-new-stablecoin-bill-to-bring-clarity-to-the-crypto-space/" rel="noopener noreferrer nofollow">US Lawmakers Bring New Stablecoin Bill to Bring Clarity to the Crypto Space</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

US Lawmakers Bring New Stablecoin Bill to Bring Clarity to the Crypto Space

Coin Edition

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