Regulation
Senators Propose New Bill Banning Algorithmic Stablecoins
- Lummis, Gillibrand say their measure would protect consumers
- Brown wants combo with marijuana banking, executive clawbacks
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Two senators — one Republican, one Democrat — are proposing a measure to regulate stablecoins amid a push in the House and Senate to pass such legislation as soon as next month.
Cynthia Lummis, a Wyoming Republican, and Kirsten Gillibrand of New York said Wednesday that their bill would protect consumers and the US dollar while enabling innovation in payments.