2023-02-21T14:29:08-05:00May 20th, 2022|1- Financial Services Management|

Federal Stablecoin Standards

Sharp disruptions in cryptoasset markets, and especially those for stablecoins, have energized calls for rapid U.S. statutory and regulatory action along lines initially laid out by the President’s Working Group on Financial Markets (PWG).  The most comprehensive stablecoin legislative proposal so far is the Stablecoin TRUST Act, a discussion draft released by Senate Banking Ranking Member Toomey (R-PA).  Setting the parameters for what Republicans support and thus what might pass the Senate, the draft differs in many ways from the PWG’s approach.