December 4, 2021

In the United States introduced a bill defining the legal status of stablecoins

Sylvia Garcia and Lance Gooden submit a bill defining Libra and others stablecoins as securities and aimed at strengthening their control.

According to Gooden, a bill calledThe Managed Stablecoins are Securities Act of 2019 clearly defines the status of stablecoins and clarifies the regulation of digital assets, and is also aimed at protecting investors. Gooden emphasized that thanks to this bill, cryptocurrency investors will have a more informed understanding of what financial assets they are acquiring.

“What is commonly called stablecoins, in factin fact, digital assets from well-known brands claiming that their assets are stable and secure. Investors must be sure of the stability of these assets, and our bill will give them that confidence by carefully monitoring the financial security of this new category of digital currencies, ”Gooden said, adding that stablecoins should be regulated in accordance with applicable securities laws.

Facebook disagreeslawmakers that Libra stablecoin is a security, but is ready to abandon the project if it does not receive regulatory approval. Telegram is also in the “resistance” position, which believes that the sale of Gram tokens does not violate US laws. This month, Telegram filed a new petition with the court to dismiss the U.S. Securities and Exchange Commission (SEC) lawsuit to ban the sale of Gram tokens.

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