US Passes STABLE Act Regulating USD-Pegged Stablecoins
- The US House Financial Services Committee passed the STABLE Act with a 32-17 vote.
- The act establishes a regulatory framework for USD-pegged stablecoins like Tether (USDT) and Circle (USDC).
- Key provisions include consumer protection and promoting innovation in digital assets.
- It aims to maintain the US dollar’s dominance as the world’s reserve currency.
- Custodia Bank and Vantage Bank launched Avit, a bank-issued stablecoin on Ethereum.
The passage of the STABLE Act by a 32-17 vote marks a significant step in regulating USD-pegged stablecoins, providing clear guidelines for industry players while ensuring consumer protection.
Source (2.6)https://coingape.com/us-passes-the-stable-act-for-usd-stablecoins-tether-circle-other-to-benefit/?rand=24432
