US regulators call for new stablecoin regulations
Working group wants issuers to be insured and regulated like banks
A committee of US financial regulators has issued a report advocating that stablecoin issuers “be insured depository institutions”, akin to banks.
The President’s Working Group on Financial Markets also proposes extending regulations to cover digital-wallet providers and other participants in stablecoin payment networks.
The working group comprises the US Treasury, the Federal Reserve, the Securities and Exchange Commission and the Commodity Futures Trading Commission. For the stablecoins
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