The United States Congress, which will shortly undergo a change in composition following the mid-term elections on November 8, will have to legislate on a series of matters related to the crypto industry. These include the regulation of stablecoins, a topic which has several bills awaiting discussion and approval.
Following the Report on Stablecoins released by the President’s Task Force on Financial Markets in November of last year, and the catastrophe that followed the collapse of algorithmic stablecoin Terra USD, lawmakers on Capitol Hill have focused on crypto legislation.
Since then, several bills have been presented for discussion in the Senate and the House of Representatives. In February of this year, New Jersey Congressman Josh Gottheimer introduced the Stablecoin Innovation and Protection Bill of 2022.
The text of the bill states that qualified stablecoins can be issued by a bank or a non-bank issuer….
