Finding the Balance: Protecting the Dual-Banking System in Stablecoin Legislation
Monday, 29 April 2024, 13:43
Debate over Stablecoin Legislation
The Lummis-Gillibrand stablecoin bill has sparked discussions regarding the balance between federal and state authority in regulating digital assets.
Centralized Control Concerns
- Important digital assets
- The bill tilts towards federal control, potentially impacting state regulation.
Authors at the Cato Institute, Jack Solowey and Jennifer J. Schulp, caution against giving excessive power to Washington in determining stablecoin issuers.
It is essential to respect the dual-banking system while setting regulations for stablecoin issuers.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.