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Senate Stablecoin Bill Gains Traction—Here’s What’s in the New Draft
Senate Stablecoin Bill Gains Traction—Here’s What’s in the New Draft
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Washington finally moves the needle on crypto regulation—just as Wall Street starts eyeing stablecoins for their own profit pipelines.
Key provisions in the draft:
- Federal oversight claws back power from states, putting the Fed in charge of non-bank issuers
- Reserve requirements get teeth: 100% backing with cash or Treasuries (sorry, ’algorithmic stablecoin’ gamblers)
- Two-year moratorium on Terra-style ’stable’ coins that aren’t actually stable
Of course, the bill still lets banks hoard the real prize—acting as issuers while keeping decentralized players on a tight leash. Because nothing says ’innovation’ like protecting legacy financial intermediaries.
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