{"id":132847,"date":"2024-07-11T07:00:17","date_gmt":"2024-07-11T04:00:17","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=132847"},"modified":"2024-07-11T01:32:00","modified_gmt":"2024-07-10T22:32:00","slug":"jerome-powell-advocates-for-stablecoin-legislation-by-year-end","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/jerome-powell-advocates-for-stablecoin-legislation-by-year-end\/","title":{"rendered":"Jerome Powell Advocates for Stablecoin Legislation by Year-End"},"content":{"rendered":"

Powell emphasized<\/a> <\/strong>the Federal Reserve’s commitment to working with Congress to create a suitable regulatory framework for stablecoins, highlighting its importance for transaction stability and security in the US.<\/p>\n

In April, Senators Cynthia Lummis and Kirsten Gillibrand introduced the Lummis-Gillibrand Payment Stablecoin Act, a bipartisan bill aimed at regulating payment stablecoins. The bill focuses on protecting consumers and fostering innovation while maintaining the dominance of the US dollar.<\/p>\n

It defines “payment stablecoins” as crypto assets intended for use as a medium of exchange, redeemable for a fixed amount of US dollars, or maintaining a stable value equivalent to the US dollar, excluding those pegged to non-US dollar assets.<\/p>\n