Stablecoin

2024

Patrick

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
In a recent post on the X social media network, Paul Grewal, chief legal officer at Coinbase, has&nbsp;<a href="https://twitter.com/iampaulgrewal/status/1777495668489388491" rel="noopener noreferrer nofollow">urged</a> Congress to pass stablecoin legislation if the US wants to be serious about a negligible percentage of illicit finance that is conducted with the help of cryptocurrencies.&nbsp;
Grewal's comment came in response to the testimony published by Wally Adeyemo, the US deputy secretary of the Treasury, that focuses on countering illegal use cases of crypto.
In his testimony, Adeyemo has noted that bad actors have increasingly started using cryptocurrencies as a tool for hiding their identities. In such a way, it is possible for them to cut off the traditional financial system.&nbsp;
The official has stressed that the Treasury is working to counter illicit finance networks around the globe.&nbsp;
The testimony mentions that North Korea, for instance, is responsible for multiple cyber heists. It relies on over-the-counter crypto traders in order to convert ill-gotten cryptocurrencies into cash.&nbsp;
Adeyemo has proposed focusing on such reforms as the introduction of secondary sanctions, the modernization of existing authorities, and addressing the risks of offshore cryptocurrency platforms.&nbsp;
As&nbsp;<a href="https://u.today/tron-accounts-for-nearly-half-of-illicit-transactions-report" rel="noopener noreferrer nofollow">reported by U.Today</a>, the Tron blockchain alone accounts for roughly half of all illegal transactions due to the popularity of the Tron-based USDT token.
Last March,U.S. Rep. Patrick McHenry (R-N.C.) said that the House of Representatives had a "workable timeframe" for a stablecoin bill. The bill has attracted significant bipartisan support, which is why it is likely to move forward in 2024.

Coinbase's Top Lawyer Urges Congress to Pass Stablecoin Bill

U_Today

Các bài viết khác được xuất bản trên 9 thg 4, 2024

Solvation Memecoin Presale Launches on Solana: Over 20% of the Presale Is Already Sold

The AI-Based Smart Contract Audit Firm "Bunzz Audit" Has Officially Launched (9 Apr)

Major Coinbase Court Win! + Crypto Rally

The Path to Millionaire Status: How Bitgert Coin Could Turn $100 into $1M USD

Top Memecoins Surging 100X Today

Ethena (ENA) Rallies As ENA Lists On New Exchanges, Investors Join New 100X Cryptocurrency

Tham gia bản tin miễn phí của chúng tôi để cập nhật tin tức về tiền điện tử hàng ngày!