Lawmakers Hear Calls For Increased Stablecoin Regulation

By Elise Hansen (November 17, 2021, 8:57 PM EST) -- Digital assets known as stablecoins could help modernize the U.S.' payment system, but stablecoin issuers should also be subject to tighter regulatory scrutiny and enforcement, members of the U.S. Congress Joint Economic Committee heard Wednesday.

In a hearing titled "Demystifying Crypto: Digital Assets and the Role of Government," lawmakers heard about the implications of cryptocurrency's rise and weighed the balance between regulation and innovation in the space. A topic that arose frequently was so-called stablecoins, a digital asset whose price is pegged to a fiat currency, such as the U.S. dollar.

Stablecoins have been the subject of regulatory debate in recent...

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