Cryptocurrency
Cryptocurrency
Out of context: Reply #865
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‘Huge Disaster’—Congress Just Introduced A Game-Changing Bill That Could Blow Up The Bitcoin Price And Crypto Market
"It protects consumers by mandating one-to-one reserves, prohibiting algorithmic stablecoins, and requiring stablecoin issuers to comply with U.S. anti-money laundering and sanctions rules," Gillibrand added.
However, some from both the traditional world of finance and the crypto space have criticized the bill.
"It will be a huge disaster when any of them are passed," Hilary Allen, an associate professor at American University’s Washington College of Law, told Bloomberg, arguing stablecoins aren’t robust enough to be a viable form of payment.