THE FUTURE OF PAYMENTS INCLUDES STABLECOINS

Summary from the TLDR Crypto newsletter

This article highlights key considerations for legislation around stablecoins. As regulation around cryptocurrencies assumes focus worldwide, regulators should address user risks by setting risk-management standards, potentially including balance verification, and reserve asset requirements for centralized issuers of US dollar-linked stablecoins. Legislation should also support competition among stablecoins and other financial services, setting clear regulations for stablecoin use and guaranteeing open access for consumers. Furthermore, legislation should support innovation in stablecoins, allowing a variety of forms, assuming adherence to consumer protection and suitable risk-management rules.