LockMeta
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Metaverse
  • Business
  • Markets
  • Policy
  • Press Release
Twitter Telegram
LockMeta
Twitter Telegram
Google News
  • Latest News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Metaverse
  • Business
  • Markets
  • Policy
  • Press Release
LockMeta
News

U.S. Congressman Releases Draft Stablecoin Regulation Bill

February 15, 2022
Share Facebook Twitter Telegram WhatsApp Pinterest LinkedIn Tumblr Email Reddit VKontakte

On February 16, U.S. Congressman Josh Gotthiemer (NJ-5) released a discussion draft of the Stablecoin Innovation and Protection Act of 2022. The act defines a qualifying Stablecoin as a cryptocurrency that is convertible into U.S. dollars on demand and issued by an insured depository institution such as a bank or a non-bank qualified Stablecoin issuer.

The Act provides that the Office of the Comptroller of the Currency (OCC) has primary oversight powers over both types of stablecoin issuers, and non-bank issuers must hold at least 100% of their reserve assets, including U.S. dollars, U.S. government-issued securities such as U.S. Treasuries ) and such other assets as the Office of the Comptroller of the Currency (OCC) deems appropriate. Cash collateral must be held in a separate Federal Deposit Insurance Corporation (FDIC) insured account.

Previous ArticleRussian Foreign Ministry: Wants to Legalize Bitcoin Mining in Certain Fields
Next Article Everyrealm hosts Metaverse Fashion Week, will feature digital wearable NFT sales

Related News

January 8, 2023

Data on the chain shows that the FTX US wallet still holds more than 500 NFTs on the Solana chain

January 8, 2023

NFT lending platform Astaria announces open-source codebase

January 8, 2023

Report: Gemini-DCG dispute could be market bottom event in 2023

January 8, 2023

Shiba Inu’s second-tier solution Shibarium: Every transaction will destroy SHIB, and the Beta test version will be launched soon

January 5, 2023

Asset Management Giant BlackRock Adds Bitcoin to Its Global Allocation Fund Portfolio

January 5, 2023

Data: By the end of last year, Binance had controlled 92% of Bitcoin spot transactions

January 5, 2023

Wemade plans to launch an Ethereum Layer 2 platform using zero-knowledge proof technology

January 5, 2023

Memeland Captain NFT “CaptainZ” was released within 12 minutes, and the team’s income was about 9801 ETH

The Latest
NFT News January 8, 2023
Data on the chain shows that the FTX US wallet still holds more than 500 NFTs on the Solana chain
NFT News January 8, 2023
NFT lending platform Astaria announces open-source codebase
Business News January 8, 2023
Report: Gemini-DCG dispute could be market bottom event in 2023
Altcoin News January 8, 2023
Shiba Inu’s second-tier solution Shibarium: Every transaction will destroy SHIB, and the Beta test version will be launched soon
Bitcoin News January 5, 2023
Asset Management Giant BlackRock Adds Bitcoin to Its Global Allocation Fund Portfolio

LockMeta provides the latest crypto news flash including Bitcoin, Ethereum, Altcoins, NFTs, Metaverse, Business and Policy. Get today's latest crypto news in a minute.

Twitter Telegram
  • News
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Metaverse
  • Business
  • Markets
  • Policy
  • Press Release
  • About Us
  • Contact Us
  • Advertise
  • Terms of Service
  • Privacy Policy
© 2023 LockMeta.

Type above and press Enter to search. Press Esc to cancel.