New US stableCoin legislation put forward and I've got to

Question

New US stableCoin legislation put forward and I've got to

say that I think it may actually pass.

While it's not going to make everyone happy.
One key aspect of the legislation is the ban on algorithmic stablecoins (DJED?), which aims to ensure stability in "Stable" Coins.

It's a decent step forward in getting legislation from Congress.
It also has lots of decent stuff. For example, states oversee coin issuers with less than 10 billion, and the Fed oversees those with more than 10 billion.

It also requires audited financial statements and monthly disclosures of all assets and establishes proper custody and third-party risk management practices.

DJED is already sort of shadow-banned in the US, with American unable to mint/burn on the DJED site.
If this passes then in theory Dex's (US based ones)- may have to pull any Algo stablecoins. Which I think is fine if it brings new regulation and stability to the market.

https://punchbowl.news/wp-content/uploads/LIP24254.pdf

#coti #cryptocurrency #english

0

17.04.2024

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Zippy Zoro | Resolute Node Автор вопроса

soeren jensen
LOL ago stablecoins are the only ones that are act...

Well, you've always been able to cash in 1 USDT and 1 USDC for $1 just like you always could with Djed. It's the CEX and Dex prices that fluctuate. If looking at CEX and DEX then none of them are stable. But lets not forget that the dollar also reduces in spending power at a rate of 2.76%. So if Tether unpegged at the same rate as the dollar it would now be hovering around $0.79.

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7 месяцев назад

soeren jensen · Accepted Answer

soeren jensen

LOL ago stablecoins are the only ones that are actually stable..

0

7 месяцев назад

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New US stableCoin legislation put forward and I've got to

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