\n

Sen. Hagerty persists that the act won't put power into the \"unaccountable bureaucrats who threaten to choke off innovation\", rather it is aimed at consumer protection.<\/p>\n\n\n\n

From whether coins are securities or commodities, to who is in charge of regulating them, those in the cryptocurrency marketplace are navigating significant ambiguity<\/em>.<\/p>Sen. Bill Hagerty<\/cite><\/blockquote>\n","post_title":"'Stablecoin Transparency Act' Could Require Stablecoins To Be Backed By Dollars","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"stablecoin-transparency-act-could-require-stablecoins-to-be-backed-by-dollars","to_ping":"","pinged":"","post_modified":"2023-04-11 12:48:56","post_modified_gmt":"2023-04-11 02:48:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4207","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Stablecoin issuers will also be compelled under the new act to publish audited reports regularly to demonstrate their reserves. This will have a significant impact on stablecoin issuers such as Circle ($USDC<\/a>) and Tether ($USDT<\/a>), whose treasury backing the coin has been speculated against for years.<\/p>\n\n\n\n

Sen. Hagerty persists that the act won't put power into the \"unaccountable bureaucrats who threaten to choke off innovation\", rather it is aimed at consumer protection.<\/p>\n\n\n\n

From whether coins are securities or commodities, to who is in charge of regulating them, those in the cryptocurrency marketplace are navigating significant ambiguity<\/em>.<\/p>Sen. Bill Hagerty<\/cite><\/blockquote>\n","post_title":"'Stablecoin Transparency Act' Could Require Stablecoins To Be Backed By Dollars","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"stablecoin-transparency-act-could-require-stablecoins-to-be-backed-by-dollars","to_ping":"","pinged":"","post_modified":"2023-04-11 12:48:56","post_modified_gmt":"2023-04-11 02:48:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4207","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The 'Stablecoin Transparency Act' would set the standards for the \"quality of assets held in reserves\" by requiring stablecoins to be fully backed by a combination of U.S. dollars and \"government securities with maturities less than 12 months\". Stablecoins are cryptocurrency tokens pegged 1:1 with fiat, typically USD. The idea goes that for every stablecoin there is an equal bill in circulation that can be 'redeemed' when they decide to.<\/p>\n\n\n\n

Stablecoin issuers will also be compelled under the new act to publish audited reports regularly to demonstrate their reserves. This will have a significant impact on stablecoin issuers such as Circle ($USDC<\/a>) and Tether ($USDT<\/a>), whose treasury backing the coin has been speculated against for years.<\/p>\n\n\n\n

Sen. Hagerty persists that the act won't put power into the \"unaccountable bureaucrats who threaten to choke off innovation\", rather it is aimed at consumer protection.<\/p>\n\n\n\n

From whether coins are securities or commodities, to who is in charge of regulating them, those in the cryptocurrency marketplace are navigating significant ambiguity<\/em>.<\/p>Sen. Bill Hagerty<\/cite><\/blockquote>\n","post_title":"'Stablecoin Transparency Act' Could Require Stablecoins To Be Backed By Dollars","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"stablecoin-transparency-act-could-require-stablecoins-to-be-backed-by-dollars","to_ping":"","pinged":"","post_modified":"2023-04-11 12:48:56","post_modified_gmt":"2023-04-11 02:48:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4207","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

U.S. Lawmakers Rep. Trey Hollingsworth (R-IN) in the House and Sen. Bill Hagerty (R-TN) in the Upper Chamber introduced a bill in the House and Senate aimed at increasing transparency within the stablecoin market. <\/p>\n\n\n\n

The 'Stablecoin Transparency Act' would set the standards for the \"quality of assets held in reserves\" by requiring stablecoins to be fully backed by a combination of U.S. dollars and \"government securities with maturities less than 12 months\". Stablecoins are cryptocurrency tokens pegged 1:1 with fiat, typically USD. The idea goes that for every stablecoin there is an equal bill in circulation that can be 'redeemed' when they decide to.<\/p>\n\n\n\n

Stablecoin issuers will also be compelled under the new act to publish audited reports regularly to demonstrate their reserves. This will have a significant impact on stablecoin issuers such as Circle ($USDC<\/a>) and Tether ($USDT<\/a>), whose treasury backing the coin has been speculated against for years.<\/p>\n\n\n\n

Sen. Hagerty persists that the act won't put power into the \"unaccountable bureaucrats who threaten to choke off innovation\", rather it is aimed at consumer protection.<\/p>\n\n\n\n

From whether coins are securities or commodities, to who is in charge of regulating them, those in the cryptocurrency marketplace are navigating significant ambiguity<\/em>.<\/p>Sen. Bill Hagerty<\/cite><\/blockquote>\n","post_title":"'Stablecoin Transparency Act' Could Require Stablecoins To Be Backed By Dollars","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"stablecoin-transparency-act-could-require-stablecoins-to-be-backed-by-dollars","to_ping":"","pinged":"","post_modified":"2023-04-11 12:48:56","post_modified_gmt":"2023-04-11 02:48:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4207","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Transparent backing of stablecoins<\/a> may be the new standard.<\/p>\n\n\n\n

U.S. Lawmakers Rep. Trey Hollingsworth (R-IN) in the House and Sen. Bill Hagerty (R-TN) in the Upper Chamber introduced a bill in the House and Senate aimed at increasing transparency within the stablecoin market. <\/p>\n\n\n\n

The 'Stablecoin Transparency Act' would set the standards for the \"quality of assets held in reserves\" by requiring stablecoins to be fully backed by a combination of U.S. dollars and \"government securities with maturities less than 12 months\". Stablecoins are cryptocurrency tokens pegged 1:1 with fiat, typically USD. The idea goes that for every stablecoin there is an equal bill in circulation that can be 'redeemed' when they decide to.<\/p>\n\n\n\n

Stablecoin issuers will also be compelled under the new act to publish audited reports regularly to demonstrate their reserves. This will have a significant impact on stablecoin issuers such as Circle ($USDC<\/a>) and Tether ($USDT<\/a>), whose treasury backing the coin has been speculated against for years.<\/p>\n\n\n\n

Sen. Hagerty persists that the act won't put power into the \"unaccountable bureaucrats who threaten to choke off innovation\", rather it is aimed at consumer protection.<\/p>\n\n\n\n

From whether coins are securities or commodities, to who is in charge of regulating them, those in the cryptocurrency marketplace are navigating significant ambiguity<\/em>.<\/p>Sen. Bill Hagerty<\/cite><\/blockquote>\n","post_title":"'Stablecoin Transparency Act' Could Require Stablecoins To Be Backed By Dollars","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"stablecoin-transparency-act-could-require-stablecoins-to-be-backed-by-dollars","to_ping":"","pinged":"","post_modified":"2023-04-11 12:48:56","post_modified_gmt":"2023-04-11 02:48:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4207","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

It\u2019s my ambition to make the UK a global hub for cryptoasset technology, and the measures we\u2019ve outlined today will help to ensure firms can invest, innovate and scale up in this country.<\/em><\/p>Rishi Sunak, Chancellor of the Exchequer
<\/a><\/cite><\/blockquote>\n","post_title":"UK Government Adopts Stablecoins As Legal Tender","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-adopts-stablecoins-as-legal-tender","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/uk-government-plans-the-royal-mint-nft\/","post_modified":"2023-04-11 12:48:35","post_modified_gmt":"2023-04-11 02:48:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4207,"post_author":"1","post_date":"2022-04-01 23:14:11","post_date_gmt":"2022-04-01 12:14:11","post_content":"\n

Transparent backing of stablecoins<\/a> may be the new standard.<\/p>\n\n\n\n

U.S. Lawmakers Rep. Trey Hollingsworth (R-IN) in the House and Sen. Bill Hagerty (R-TN) in the Upper Chamber introduced a bill in the House and Senate aimed at increasing transparency within the stablecoin market. <\/p>\n\n\n\n

The 'Stablecoin Transparency Act' would set the standards for the \"quality of assets held in reserves\" by requiring stablecoins to be fully backed by a combination of U.S. dollars and \"government securities with maturities less than 12 months\". Stablecoins are cryptocurrency tokens pegged 1:1 with fiat, typically USD. The idea goes that for every stablecoin there is an equal bill in circulation that can be 'redeemed' when they decide to.<\/p>\n\n\n\n

Stablecoin issuers will also be compelled under the new act to publish audited reports regularly to demonstrate their reserves. This will have a significant impact on stablecoin issuers such as Circle ($USDC<\/a>) and Tether ($USDT<\/a>), whose treasury backing the coin has been speculated against for years.<\/p>\n\n\n\n

Sen. Hagerty persists that the act won't put power into the \"unaccountable bureaucrats who threaten to choke off innovation\", rather it is aimed at consumer protection.<\/p>\n\n\n\n

From whether coins are securities or commodities, to who is in charge of regulating them, those in the cryptocurrency marketplace are navigating significant ambiguity<\/em>.<\/p>Sen. Bill Hagerty<\/cite><\/blockquote>\n","post_title":"'Stablecoin Transparency Act' Could Require Stablecoins To Be Backed By Dollars","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"stablecoin-transparency-act-could-require-stablecoins-to-be-backed-by-dollars","to_ping":"","pinged":"","post_modified":"2023-04-11 12:48:56","post_modified_gmt":"2023-04-11 02:48:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4207","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The UK will proactively explore the potentially transformative benefits of Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

It\u2019s my ambition to make the UK a global hub for cryptoasset technology, and the measures we\u2019ve outlined today will help to ensure firms can invest, innovate and scale up in this country.<\/em><\/p>Rishi Sunak, Chancellor of the Exchequer
<\/a><\/cite><\/blockquote>\n","post_title":"UK Government Adopts Stablecoins As Legal Tender","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-adopts-stablecoins-as-legal-tender","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/uk-government-plans-the-royal-mint-nft\/","post_modified":"2023-04-11 12:48:35","post_modified_gmt":"2023-04-11 02:48:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4207,"post_author":"1","post_date":"2022-04-01 23:14:11","post_date_gmt":"2022-04-01 12:14:11","post_content":"\n

Transparent backing of stablecoins<\/a> may be the new standard.<\/p>\n\n\n\n

U.S. Lawmakers Rep. Trey Hollingsworth (R-IN) in the House and Sen. Bill Hagerty (R-TN) in the Upper Chamber introduced a bill in the House and Senate aimed at increasing transparency within the stablecoin market. <\/p>\n\n\n\n

The 'Stablecoin Transparency Act' would set the standards for the \"quality of assets held in reserves\" by requiring stablecoins to be fully backed by a combination of U.S. dollars and \"government securities with maturities less than 12 months\". Stablecoins are cryptocurrency tokens pegged 1:1 with fiat, typically USD. The idea goes that for every stablecoin there is an equal bill in circulation that can be 'redeemed' when they decide to.<\/p>\n\n\n\n

Stablecoin issuers will also be compelled under the new act to publish audited reports regularly to demonstrate their reserves. This will have a significant impact on stablecoin issuers such as Circle ($USDC<\/a>) and Tether ($USDT<\/a>), whose treasury backing the coin has been speculated against for years.<\/p>\n\n\n\n

Sen. Hagerty persists that the act won't put power into the \"unaccountable bureaucrats who threaten to choke off innovation\", rather it is aimed at consumer protection.<\/p>\n\n\n\n

From whether coins are securities or commodities, to who is in charge of regulating them, those in the cryptocurrency marketplace are navigating significant ambiguity<\/em>.<\/p>Sen. Bill Hagerty<\/cite><\/blockquote>\n","post_title":"'Stablecoin Transparency Act' Could Require Stablecoins To Be Backed By Dollars","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"stablecoin-transparency-act-could-require-stablecoins-to-be-backed-by-dollars","to_ping":"","pinged":"","post_modified":"2023-04-11 12:48:56","post_modified_gmt":"2023-04-11 02:48:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4207","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the release of the 'Royal Mint NFT<\/a>'.<\/p>\n\n\n\n

The UK will proactively explore the potentially transformative benefits of Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

It\u2019s my ambition to make the UK a global hub for cryptoasset technology, and the measures we\u2019ve outlined today will help to ensure firms can invest, innovate and scale up in this country.<\/em><\/p>Rishi Sunak, Chancellor of the Exchequer
<\/a><\/cite><\/blockquote>\n","post_title":"UK Government Adopts Stablecoins As Legal Tender","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-adopts-stablecoins-as-legal-tender","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/uk-government-plans-the-royal-mint-nft\/","post_modified":"2023-04-11 12:48:35","post_modified_gmt":"2023-04-11 02:48:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4207,"post_author":"1","post_date":"2022-04-01 23:14:11","post_date_gmt":"2022-04-01 12:14:11","post_content":"\n

Transparent backing of stablecoins<\/a> may be the new standard.<\/p>\n\n\n\n

U.S. Lawmakers Rep. Trey Hollingsworth (R-IN) in the House and Sen. Bill Hagerty (R-TN) in the Upper Chamber introduced a bill in the House and Senate aimed at increasing transparency within the stablecoin market. <\/p>\n\n\n\n

The 'Stablecoin Transparency Act' would set the standards for the \"quality of assets held in reserves\" by requiring stablecoins to be fully backed by a combination of U.S. dollars and \"government securities with maturities less than 12 months\". Stablecoins are cryptocurrency tokens pegged 1:1 with fiat, typically USD. The idea goes that for every stablecoin there is an equal bill in circulation that can be 'redeemed' when they decide to.<\/p>\n\n\n\n

Stablecoin issuers will also be compelled under the new act to publish audited reports regularly to demonstrate their reserves. This will have a significant impact on stablecoin issuers such as Circle ($USDC<\/a>) and Tether ($USDT<\/a>), whose treasury backing the coin has been speculated against for years.<\/p>\n\n\n\n

Sen. Hagerty persists that the act won't put power into the \"unaccountable bureaucrats who threaten to choke off innovation\", rather it is aimed at consumer protection.<\/p>\n\n\n\n

From whether coins are securities or commodities, to who is in charge of regulating them, those in the cryptocurrency marketplace are navigating significant ambiguity<\/em>.<\/p>Sen. Bill Hagerty<\/cite><\/blockquote>\n","post_title":"'Stablecoin Transparency Act' Could Require Stablecoins To Be Backed By Dollars","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"stablecoin-transparency-act-could-require-stablecoins-to-be-backed-by-dollars","to_ping":"","pinged":"","post_modified":"2023-04-11 12:48:56","post_modified_gmt":"2023-04-11 02:48:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4207","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n
\nhttps:\/\/twitter.com\/RishiSunak\/status\/1510988474215772162?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the release of the 'Royal Mint NFT<\/a>'.<\/p>\n\n\n\n

The UK will proactively explore the potentially transformative benefits of Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

It\u2019s my ambition to make the UK a global hub for cryptoasset technology, and the measures we\u2019ve outlined today will help to ensure firms can invest, innovate and scale up in this country.<\/em><\/p>Rishi Sunak, Chancellor of the Exchequer
<\/a><\/cite><\/blockquote>\n","post_title":"UK Government Adopts Stablecoins As Legal Tender","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-adopts-stablecoins-as-legal-tender","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/uk-government-plans-the-royal-mint-nft\/","post_modified":"2023-04-11 12:48:35","post_modified_gmt":"2023-04-11 02:48:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4207,"post_author":"1","post_date":"2022-04-01 23:14:11","post_date_gmt":"2022-04-01 12:14:11","post_content":"\n

Transparent backing of stablecoins<\/a> may be the new standard.<\/p>\n\n\n\n

U.S. Lawmakers Rep. Trey Hollingsworth (R-IN) in the House and Sen. Bill Hagerty (R-TN) in the Upper Chamber introduced a bill in the House and Senate aimed at increasing transparency within the stablecoin market. <\/p>\n\n\n\n

The 'Stablecoin Transparency Act' would set the standards for the \"quality of assets held in reserves\" by requiring stablecoins to be fully backed by a combination of U.S. dollars and \"government securities with maturities less than 12 months\". Stablecoins are cryptocurrency tokens pegged 1:1 with fiat, typically USD. The idea goes that for every stablecoin there is an equal bill in circulation that can be 'redeemed' when they decide to.<\/p>\n\n\n\n

Stablecoin issuers will also be compelled under the new act to publish audited reports regularly to demonstrate their reserves. This will have a significant impact on stablecoin issuers such as Circle ($USDC<\/a>) and Tether ($USDT<\/a>), whose treasury backing the coin has been speculated against for years.<\/p>\n\n\n\n

Sen. Hagerty persists that the act won't put power into the \"unaccountable bureaucrats who threaten to choke off innovation\", rather it is aimed at consumer protection.<\/p>\n\n\n\n

From whether coins are securities or commodities, to who is in charge of regulating them, those in the cryptocurrency marketplace are navigating significant ambiguity<\/em>.<\/p>Sen. Bill Hagerty<\/cite><\/blockquote>\n","post_title":"'Stablecoin Transparency Act' Could Require Stablecoins To Be Backed By Dollars","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"stablecoin-transparency-act-could-require-stablecoins-to-be-backed-by-dollars","to_ping":"","pinged":"","post_modified":"2023-04-11 12:48:56","post_modified_gmt":"2023-04-11 02:48:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4207","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

Stablecoins are cryptocurrency tokens pegged 1:1 with fiat, typically USD. The idea goes that for every stablecoin there is an equal bill in circulation that can be \u2018redeemed\u2019 when they decide to. With appropriate regulation, they could provide a more efficient means of payment and widen consumer choice believes Chancellor of the Exchequer, Rishi Sunak.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/RishiSunak\/status\/1510988474215772162?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the release of the 'Royal Mint NFT<\/a>'.<\/p>\n\n\n\n

The UK will proactively explore the potentially transformative benefits of Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

It\u2019s my ambition to make the UK a global hub for cryptoasset technology, and the measures we\u2019ve outlined today will help to ensure firms can invest, innovate and scale up in this country.<\/em><\/p>Rishi Sunak, Chancellor of the Exchequer
<\/a><\/cite><\/blockquote>\n","post_title":"UK Government Adopts Stablecoins As Legal Tender","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-adopts-stablecoins-as-legal-tender","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/uk-government-plans-the-royal-mint-nft\/","post_modified":"2023-04-11 12:48:35","post_modified_gmt":"2023-04-11 02:48:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4207,"post_author":"1","post_date":"2022-04-01 23:14:11","post_date_gmt":"2022-04-01 12:14:11","post_content":"\n

Transparent backing of stablecoins<\/a> may be the new standard.<\/p>\n\n\n\n

U.S. Lawmakers Rep. Trey Hollingsworth (R-IN) in the House and Sen. Bill Hagerty (R-TN) in the Upper Chamber introduced a bill in the House and Senate aimed at increasing transparency within the stablecoin market. <\/p>\n\n\n\n

The 'Stablecoin Transparency Act' would set the standards for the \"quality of assets held in reserves\" by requiring stablecoins to be fully backed by a combination of U.S. dollars and \"government securities with maturities less than 12 months\". Stablecoins are cryptocurrency tokens pegged 1:1 with fiat, typically USD. The idea goes that for every stablecoin there is an equal bill in circulation that can be 'redeemed' when they decide to.<\/p>\n\n\n\n

Stablecoin issuers will also be compelled under the new act to publish audited reports regularly to demonstrate their reserves. This will have a significant impact on stablecoin issuers such as Circle ($USDC<\/a>) and Tether ($USDT<\/a>), whose treasury backing the coin has been speculated against for years.<\/p>\n\n\n\n

Sen. Hagerty persists that the act won't put power into the \"unaccountable bureaucrats who threaten to choke off innovation\", rather it is aimed at consumer protection.<\/p>\n\n\n\n

From whether coins are securities or commodities, to who is in charge of regulating them, those in the cryptocurrency marketplace are navigating significant ambiguity<\/em>.<\/p>Sen. Bill Hagerty<\/cite><\/blockquote>\n","post_title":"'Stablecoin Transparency Act' Could Require Stablecoins To Be Backed By Dollars","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"stablecoin-transparency-act-could-require-stablecoins-to-be-backed-by-dollars","to_ping":"","pinged":"","post_modified":"2023-04-11 12:48:56","post_modified_gmt":"2023-04-11 02:48:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4207","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The treasury believes that regulating stablecoins would ensure that they could be used safely by the public while giving the public the confidence to use digital currencies.<\/p>\n\n\n\n

Stablecoins are cryptocurrency tokens pegged 1:1 with fiat, typically USD. The idea goes that for every stablecoin there is an equal bill in circulation that can be \u2018redeemed\u2019 when they decide to. With appropriate regulation, they could provide a more efficient means of payment and widen consumer choice believes Chancellor of the Exchequer, Rishi Sunak.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/RishiSunak\/status\/1510988474215772162?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the release of the 'Royal Mint NFT<\/a>'.<\/p>\n\n\n\n

The UK will proactively explore the potentially transformative benefits of Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

It\u2019s my ambition to make the UK a global hub for cryptoasset technology, and the measures we\u2019ve outlined today will help to ensure firms can invest, innovate and scale up in this country.<\/em><\/p>Rishi Sunak, Chancellor of the Exchequer
<\/a><\/cite><\/blockquote>\n","post_title":"UK Government Adopts Stablecoins As Legal Tender","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-adopts-stablecoins-as-legal-tender","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/uk-government-plans-the-royal-mint-nft\/","post_modified":"2023-04-11 12:48:35","post_modified_gmt":"2023-04-11 02:48:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4207,"post_author":"1","post_date":"2022-04-01 23:14:11","post_date_gmt":"2022-04-01 12:14:11","post_content":"\n

Transparent backing of stablecoins<\/a> may be the new standard.<\/p>\n\n\n\n

U.S. Lawmakers Rep. Trey Hollingsworth (R-IN) in the House and Sen. Bill Hagerty (R-TN) in the Upper Chamber introduced a bill in the House and Senate aimed at increasing transparency within the stablecoin market. <\/p>\n\n\n\n

The 'Stablecoin Transparency Act' would set the standards for the \"quality of assets held in reserves\" by requiring stablecoins to be fully backed by a combination of U.S. dollars and \"government securities with maturities less than 12 months\". Stablecoins are cryptocurrency tokens pegged 1:1 with fiat, typically USD. The idea goes that for every stablecoin there is an equal bill in circulation that can be 'redeemed' when they decide to.<\/p>\n\n\n\n

Stablecoin issuers will also be compelled under the new act to publish audited reports regularly to demonstrate their reserves. This will have a significant impact on stablecoin issuers such as Circle ($USDC<\/a>) and Tether ($USDT<\/a>), whose treasury backing the coin has been speculated against for years.<\/p>\n\n\n\n

Sen. Hagerty persists that the act won't put power into the \"unaccountable bureaucrats who threaten to choke off innovation\", rather it is aimed at consumer protection.<\/p>\n\n\n\n

From whether coins are securities or commodities, to who is in charge of regulating them, those in the cryptocurrency marketplace are navigating significant ambiguity<\/em>.<\/p>Sen. Bill Hagerty<\/cite><\/blockquote>\n","post_title":"'Stablecoin Transparency Act' Could Require Stablecoins To Be Backed By Dollars","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"stablecoin-transparency-act-could-require-stablecoins-to-be-backed-by-dollars","to_ping":"","pinged":"","post_modified":"2023-04-11 12:48:56","post_modified_gmt":"2023-04-11 02:48:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4207","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
\n

The United Kingdom government has announced its plans<\/a> to recognize stablecoins<\/a> as a \"valid form of payment as part of wider plans to make Britain a global hub for crypto-asset technology and investment.\"<\/p>\n\n\n\n

The treasury believes that regulating stablecoins would ensure that they could be used safely by the public while giving the public the confidence to use digital currencies.<\/p>\n\n\n\n

Stablecoins are cryptocurrency tokens pegged 1:1 with fiat, typically USD. The idea goes that for every stablecoin there is an equal bill in circulation that can be \u2018redeemed\u2019 when they decide to. With appropriate regulation, they could provide a more efficient means of payment and widen consumer choice believes Chancellor of the Exchequer, Rishi Sunak.<\/p>\n\n\n\n

\nhttps:\/\/twitter.com\/RishiSunak\/status\/1510988474215772162?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Etweet\n<\/div><\/figure>\n\n\n\n

This announcement is part of a series of measures to make the U.K. a global hub for crypto-asset technology and investment, this includes the release of the 'Royal Mint NFT<\/a>'.<\/p>\n\n\n\n

The UK will proactively explore the potentially transformative benefits of Distributed Ledger Technology (DLT)<\/a> in UK financial markets, which enables data to be synchronized and shared in a decentralized way to potentially achieve greater efficiency, transparency, and resilience.<\/p>\n\n\n\n

It\u2019s my ambition to make the UK a global hub for cryptoasset technology, and the measures we\u2019ve outlined today will help to ensure firms can invest, innovate and scale up in this country.<\/em><\/p>Rishi Sunak, Chancellor of the Exchequer
<\/a><\/cite><\/blockquote>\n","post_title":"UK Government Adopts Stablecoins As Legal Tender","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"uk-government-adopts-stablecoins-as-legal-tender","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/distributed-ledger-technology\/\nhttps:\/\/www.thedistributed.co\/uk-government-plans-the-royal-mint-nft\/","post_modified":"2023-04-11 12:48:35","post_modified_gmt":"2023-04-11 02:48:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":4207,"post_author":"1","post_date":"2022-04-01 23:14:11","post_date_gmt":"2022-04-01 12:14:11","post_content":"\n

Transparent backing of stablecoins<\/a> may be the new standard.<\/p>\n\n\n\n

U.S. Lawmakers Rep. Trey Hollingsworth (R-IN) in the House and Sen. Bill Hagerty (R-TN) in the Upper Chamber introduced a bill in the House and Senate aimed at increasing transparency within the stablecoin market. <\/p>\n\n\n\n

The 'Stablecoin Transparency Act' would set the standards for the \"quality of assets held in reserves\" by requiring stablecoins to be fully backed by a combination of U.S. dollars and \"government securities with maturities less than 12 months\". Stablecoins are cryptocurrency tokens pegged 1:1 with fiat, typically USD. The idea goes that for every stablecoin there is an equal bill in circulation that can be 'redeemed' when they decide to.<\/p>\n\n\n\n

Stablecoin issuers will also be compelled under the new act to publish audited reports regularly to demonstrate their reserves. This will have a significant impact on stablecoin issuers such as Circle ($USDC<\/a>) and Tether ($USDT<\/a>), whose treasury backing the coin has been speculated against for years.<\/p>\n\n\n\n

Sen. Hagerty persists that the act won't put power into the \"unaccountable bureaucrats who threaten to choke off innovation\", rather it is aimed at consumer protection.<\/p>\n\n\n\n

From whether coins are securities or commodities, to who is in charge of regulating them, those in the cryptocurrency marketplace are navigating significant ambiguity<\/em>.<\/p>Sen. Bill Hagerty<\/cite><\/blockquote>\n","post_title":"'Stablecoin Transparency Act' Could Require Stablecoins To Be Backed By Dollars","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"stablecoin-transparency-act-could-require-stablecoins-to-be-backed-by-dollars","to_ping":"","pinged":"","post_modified":"2023-04-11 12:48:56","post_modified_gmt":"2023-04-11 02:48:56","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=4207","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

Most Read

Subscribe To Our Newsletter

By subscribing, you agree with our privacy and terms.

Follow The Distributed

ADVERTISEMENT
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