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ARTICLE · 12 MAY 2023

Draft Bill On Stablecoin Released By The US Government

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A new era is beginning for the cryptocurrency market in the US. The draft bill on Stablecoin, which will represent the first major cryptocurrency regulation in the US...

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A new era is beginning for the cryptocurrency market in the US. The draft bill on Stablecoin, which will represent the first major cryptocurrency regulation in the US, has been released by the US House of Representatives in recent days.

What Has Changed with the New Regulation?

This draft bill addresses the potential effects of Stablecoins supported by cryptocurrencies and the Central Bank Digital Currency (CBDC) planned to be issued by the US Federal Reserve (FED).

Through this bill, the FED also requires making the regulation of Stablecoins' position in the financial system, its stability, and user privacy. The bill, which does not yet have a number, would require stablecoin issuers to have reserves that back the digital assets on an "at least one-to-one basis." It can be said that this regulation is part of the increasing regulatory efforts towards cryptocurrencies in the US and has a significant impact on the future of the Stablecoin market.

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