US Congress Wants to Allow Companies to Issue Stablecoins

The US authorities are studying several options for legalizing stablecoins due to the fact that the country’s Congress does not support the position of those regulators who want only banking institutions to be able to issue digital currencies pegged to the dollar.

The House Financial Services Committee is writing a draft bill that would give any transparent company the right to issue its own fiat-backed tokens.

As a result, congressmen do not intend to support the initiative of the government and supervisory authorities advocating the subordination of stablecoins to the banking sector.

According to the committee spokesman, banks should not be the only issuers of stablecoins. Any company that complies with the requirements of the law and has the necessary resources can become an issuer of digital currency.

He has not ruled out that the discussion of options for the regulatory framework for stablecoins may be delayed.