Reported about 14 hours ago
A bill regulating stablecoins has successfully passed a crucial procedural vote in the Senate, signaling potential final approval this week, despite opposition from some Democrats, including Senator Elizabeth Warren. The proposed legislation aims to enforce strict reserve requirements for stablecoin issuers, bar unbacked stablecoins, and ensure compliance with consumer protection laws. While some Democrats express concerns over potential loopholes, supporters argue that the regulations are necessary to prevent a repeat of past market failures.
Source: YAHOO