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A community for the latest discussions about the cutting edge of crypto design, it's culture and significant crypto news. Decentralize everything. Check out our [Community Guidelines](https://relevant.community/crypto/post/6122269e61d1cd005a877277/62427d3ed587ad005b647828)
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After the terra/Luna debacle it's easy to see why this legislation would be proposed. Despite this, it looks like there is appetite to ramp up regulated (and no doubt heavily tracked) stable coins. Let's hope this doesn't morph into some type of dystopian CBDC nightmare! "The stablecoin bill now provides a path for banks and other financial institutions to issue stablecoins, working with their existing network of regulators. But that network would now also include regulators at the state level, providing state-approved stablecoin issuers a 180-day fast track to a federal green light."
After the terra/Luna debacle it's easy to see why this legislation would be proposed. Despite this, it looks like there is appetite to ramp up regulated (and no doubt heavily tracked) stable coins. Let's hope this doesn't morph into some type of dystopian CBDC nightmare! "The stablecoin bill now provides a path for banks and other financial institutions to issue stablecoins, working with their existing network of regulators. But that network would now also include regulators at the state level, providing state-approved stablecoin issuers a 180-day fast track to a federal green light."
>The latest draft also provides a path for banks and other financial institutions to issue reserve-backed stablecoins.
>The latest draft also provides a path for banks and other financial institutions to issue reserve-backed stablecoins.
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