A Draft Law to Regulate Stablecoins in the US is Submitted to Congress

The head of the Securities and Exchange Commission, Gary Gensler, said in October that the CFTC should regulate transactions with stablecoins.

US senator Pat Toomey has submitted this week a bill to the upper house of Congress that would allow the US government to control the stablecoin market. Even if this document is edited, it will still act as a basis for the phased legalization of digital currencies in the United States, which are backed by the dollar.

The senator has urged colleagues to accelerate the implementation of regulatory legislation. According to him, there are a lot of options for using stablecoins in the global economy.