A new bill was just introduced in the US Congress that mandates bank charters and regulatory approvals for stablecoin issuers. Stablecoins are cryptocurrencies that are tied to fiat currencies or commodities like gold to stabilize their value.
The Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act was introduced by U.S. Representatives Rashida Tlaib (D-Mich.), Jesus “Chuy” Garcia (D-Ill.) and Stephen Lynch (D-Mass.). The press