Bipartisan Bill Proposed to Regulate Stablecoins, Opening Path for Crypto Innovation While Protecting Consumers

Senators Gillibrand and Lummis plan to introduce a bill to regulate stablecoins and provide oversight over stablecoin issuers
The bill would allow banks and non-banks to issue stablecoins under strict conditions to ensure stability and integrity
The legislation aims to balance innovation and growth in crypto with consumer protections against bad actors
If passed, the bill could pave the way for greater mainstream adoption of cryptocurrencies
There is bipartisan support for crypto regulation, with key lawmakers like McHenry and Waters involved in discussions