According to the news of Bloomberg, the first details came from the stablecoin (stable coin / stable coin) draft that the US House of Representatives has been working on for a while.
According to the sources; A two-year ban on algorithmic stablecoins will be introduced, and it will be illegal for a company to produce “internally collateralized (meaning algorithmic stablecoins)” stablecoins.
Although it is not known whether the draft will be put to the vote in its current form, it is expected that the final draft will be brought to the agenda and voted in the coming weeks.
If such a draft is approved, stablecoins like TerraUSD will be banned in the US.
As it is known, Terra’s stablecoin TerraUSD, which should be valued 1 to 1 with the dollar, had a collapse in the past months and its value was zero. It is known that after this incident, the attention of the regulators was completely turned in this direction and the regulations on this issue accelerated.
Congressman Patrick McHenry Speaks About the Stablecoin Law
On the other hand, Republican Representative Patrick McHenry spoke to the audience about stablecoin regulations in the US.
McHenry said:
“Whether it comes out now or later, we’re still going to have to deal with the Senate. We’ll likely have to contend with a Democratic White House, though.
Let us accept the truth and realize that we cannot achieve perfection.”
*Not investment advice.
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