Republicanss Announce No Deal On Stablecoins In US Congress

Also Read: XRP Perpetual Futures Volume Data Signal Massive Price Rally Above $1: Kaiko

advertisement

On Thursday, Republican leader McHenry announced a no deal on stablecoins, saying he was disappointed with the Democrats’ resistance to negotiations.

Patrick McHenry Blames Democrats’ For Halt In Stablecoin Bill

According to Brendan Pedersen on Twitter, ruckus prevailed in the House Financial Services Committee over the lack of enough votes. In her initial remarks, Waters pressed for a question of consideration and a recorded vote on the subject. McHenry blamed the lack of consensus over important provisions for the no deal.

“We were closer than we have ever been. A few small but nonetheless important provisions stood between us and a deal, and it was a White House’s unwillingness to compromise that has once again brought that negotiation to a halt.”

Recommended Articles
ethereum price crypto news
Crypto Presale Projects For 2023 To Invest; Updated List
Must Read
crypto exchange affiliate programs
Best Crypto Exchange Affiliate Programs In 2023
Must Read
ethereum price crypto news
Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated]
Must Read
ethereum price crypto news
Crypto Telegram Channels List 2023 [Updated]
Must Read
ethereum price crypto news
Top 10 Web3 Games To Explore In 2023; Here List
Must Read

The stablecoin payments bill places limitations on who will be permitted to issue payment stablecoin for use by any person in the United States. Also, the issuers will be required to maintain reserves backing the issuer’s payment stablecoins. The reserves shall be backed with the US currency, funds held as insured demand deposits, Treasury bills, central bank reserve deposits among others. To ensure stablecoin collapses, the bill also places condition on the issuers requiring to submit monthly certification and examination of reports by a registered public accounting firm.

Also Read: US GDP Grows To 2.4% in Q2; Will Bitcoin Price Regain $30k?

Comments

Post a Comment

Popular posts from this blog

BabyDoge: Number of Holders Surpass That of Shiba Inu

Image
Meme coins and dog tokens have become popular among investors. Many people have been drawn to the innovations and their immediate benefits. Dogecoin (DOGE) and Shiba Inu (SHIB) may have started the meme coin movement, but a few other coins have since gained popularity. BabyDoge has received a lot of attention recently as a result of recent developments. The team has been working tirelessly on the BabyDoge Swap mainnet launch, which was deployed on September 21, 2022. Even though all meme coins fall under one roof, there is a spirit of hidden competition between each of them. The battle between BabyDoge and Shiba Inu A new piece of information was shared by the Twitter account BabyDoge , which informs the meme coin community of the most recent developments, such as holder information. The most recent tweet states that BabyDoge has gathered over 11 new hodlers in the past 24 hours alone. In the past hour, #BABYDOGE has gained 11 new holders. Th...
Read more

Bitcoin can hit $40K before BTC price sees 'harsh correction' — analyst

Image
BTC price action heads lower on the day, but strength is still there beyond the short term, says Michaël van de Poppe. Bitcoin (BTC) faced selling pressure at the Feb. 21 Wall Street open as United States' stock markets opened down. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price skids lower with US stocks Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to daily lows of $24,324 on Bitstamp. Bearish signals were already in for the pair after it saw swift rejection during its latest attempt to flip $25,000 to support. Amid suspicions over whale movements on exchanges, monitoring resource Material Indicators concluded that the 200-week moving average (MA) at $25,100 needed to become support for Bitcoin to change its long-term trend. "IMO, until we see full candles above the 200 WMA this is still distribution in a bear market rally, and with the bid wall above $24k, shorting from this level has about as much short term risk as long...
Read more

Is LUNC Too Decentralized to Survive? Community Debates Need for a CEO

LUNC is ailing and unable to recover due to the absence of a leadership figure. Crypto analyst argues that fully decentralized blockchains do not succeed. Some members of the LUNC want Binance CEO to take charge of the network. According to experts in the crypto space, the Terra Luna Classic (LUNC) network is ailing and unable to recover due to the absence of a leadership figure in the space. More than once, the LUNC community has pondered bringing Changpeng Zhao (CZ), the CEO of Binance Exchange, to take charge of the LUNC affairs. In a recent YouTube video, prominent crypto analyst Classy Crypto weighed in on the idea of CZ leading LUNC. The crypto analyst first highlighted a recent proposal from the LUNC community about the need for someone to lead the network. Classy Crypto argued that it has been established over the years that fully de central ized blockchains do not succeed. He mentioned that successful networks such as Bitcoin (BTC), Ethereum (ETH...
Read more