The Gillibrand-Lummis bill intends to distinguish Tether and Circle as lawmakers look to allow state non-depository trust companies to issue stablecoins with market caps below $10 billion.
U.S. Fed Chair Jerome Powell insists he's not plotting to unleash a CBDC, while a new study says concerns about BTC and other digital currency tokens ever serving as global currency are overblown.
The bill Senator Cynthia Lummis and Senator Kirsten Gillibrand proposed aims to clarify federal regulations on stablecoins, banking, SEC and CFTC jurisdiction, and taxes.
The U.S. Federal Trade Commission released a report detailing about 46,000 people with over a median of $2,600 individual loss—this is about 60x higher than in 2018.`
The Responsible Financial Innovation Act is designed to improve flexibility, innovation, transparency and consumer protections with regard to digital assets.
