Business

Biden admin weighing bank-like regulation for stablecoin issuers By Cointelegraph




The Biden administration is reportedly contemplating a brand new authorized framework for stablecoin issuers that might put them in the identical class as banks, elevating questions on the way forward for crypto regulation within the nation.

Citing folks conversant in the matter, The Wall Road Journal reported Friday that the administration is seeking to persuade Congress to create a brand new “special-purpose constitution” for stablecoin issuers and different corporations that fall throughout the similar class. Though it’s not solely clear how the laws will look, it’s anticipated to be tailor-made particularly to these kinds of enterprise fashions.