In the crypto regulation sector in the USA, senators Kirsten Gillibrand and Cynthia Lummis have introduced a new bill that prohibits unsecured algorithmic stablecoins.
Regulation of Crypto in the USA and the Lummis-Gillibrand Payment Stablecoin Act
For the crypto regulation sector in the USA, senators Kirsten Gillibrand and Cynthia Lummis have introduced a new bill that bans unbacked algorithmic stablecoins.
Specifically, the Lummis-Gillibrand Payment Stablecoin Act requires issuers to back their tokens one-to-one and implements an anti-money laundering framework.
Basically, what the bill requires is that issuers of algorithmic stablecoins guarantee their tokens by holding liquidity or equivalent reserves to support them.
On this subject, Gillibrand stated the following:
“The approval of a regulatory framework for stablecoins is absolutely essential to maintain the dominance of the US dollar, promote responsible innovation, protect consumers, and combat money launder
We współpracy z: https://en.cryptonomist.ch/2024/04/17/regulation-of-crypto-in-the-usa-unsecured-algorithmic-stablecoins-banned/
