Stablecoin Legislation Submitted in the USA
April 17, 2024
American senators Kirsten Gillibrand and Cynthia Lummis have introduced legislation regarding stablecoins, requiring issuers to have one-to-one backing with cash or its equivalent for their tokens. The proposed law would ban algorithmic stablecoins and prohibit their use for unauthorized purposes, introducing a framework to combat money laundering alongside it.
