Washington has reportedly turned its attention to stablecoins, previously viewed as a peripheral area in the world of cryptocurrencies. Unlike the highly volatile Bitcoin and various speculative meme coins, these digital tokens are mainly meant to have a constant value, often pegged at $1 each. They largely underpinned the crypto boom during the pandemic by…
According to sources familiar with the matter, some of the largest U.S. banks may form a partnership to launch an open-source stablecoin. This is an important development for traditional financial companies and suggests a change in their attitude towards digital assets. On May 22, The Wall Street Journal reported that these discussions were taking place…
A coalition of Senate Democrats who are supportive of cryptos expressed on Saturday that they would oppose stablecoin legislation sponsored by the Republicans if it is brought to the floor in its current form. This outcome has been characterized as a stunning turn of events that might derail the bill in the Senate. The statement…
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