In November, the US President's Task Force on Financial Markets, or PWG, released a key report, raising questions about potential "stablecoin races" as well as "payments system risk." The US Senate followed up in December with hearings on stablecoin risks.
This raises questions: Will stablecoin regulation arrive in the United States in 2022? If so, will it be "far-reaching" federal legislation or a more piecemeal regulation by the Treasury Department?
What impact could it have on non-bank stablecoin issuers and the cryptocurrency industry in general? Could it stimulate a kind of convergence where stablecoin issuers look more like high-tech banks?
stablecoins banks
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