The United States turns its attention to stablecoin regulation -Breaking
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Stablecoin regulation is now the focus of the United StatesThanks 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. It is clear that the U.S. has been trying to make cryptocurrency more sustainable over the past year. This will allow for the operation of crypto platforms to be much easier.
The Stablecoin Transactions Act 2022 and Uniform Safe Transactions Act 2022 both require transparency of reserves. Do not use the hyphenThe 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.
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