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The United States turns its attention to stablecoin regulation -Breaking

by Mike Robinson

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Stablecoin regulation is now the focus of the United States

Thanks to Sen. Patrick Toomey’s work, the United States is still a leader in accepting cryptocurrency. The White House has been at the forefront for crypto regulation. The President Joe Biden was elected last year. Signed a bipartisan $1.2 trillion infrastructure bill — and it included some new legislation that would impact the crypto sector. Then, there was the U.S. president announced a “whole-of-government” approachThe U.S. government has decided to regulate cryptocurrency with an all-encompassing executive order, directing several agencies of the federal government to respond to specific questions regarding cryptocurrencies. For the past year, the U.S. clearly sought to support the cryptocurrency industry and make it more sustainable. It will be significantly easier for crypto platforms to function.

However, the Stablecoin Transactions Transparency Act and Uniform Safe Transactions Act (2022) will not be implemented. DubbedThe Stablecoin Trust Act, short for the United States, is likely to make the U.S. the first or least Western country to accept stablecoins in its official financial and banking system.

Raymond HsuCabital is the CEO and co-founder of Cabital. Cabital provides a platform for managing cryptocurrency wealth. Raymond previously worked in fintech as well as traditional banks such Citibank, Standard Chartered, eBay (NASDAQ:), and Airwallex before co-founding Cabital 2020.