The legislation aims to regulate payment stablecoins, introduce new compliance mechanisms, expand oversight powers, and clarify key definitions governing the issuance and use of dollar-backed digital assets.
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House introduces revised stablecoin legislation with compliance measures and developer protection
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The Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act aims to create a framework for payment stablecoin issuance, regulate payment stablecoins through new compliance mechanisms and expand oversight, increase safety by reserve requirements and clarify definitions to reduce ambiguity
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