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US House Committee Prepares to Vote on Stablecoin Legislation in July

A committee in the United States House of Representatives is planning to hold an important vote in July to discuss and approve new legislation regarding stablecoins, also known as ‘Stablecoin.’ It is expected that these legislations will contribute to regulating this type of digital currency and providing a clear legal environment for companies and investors.

Chairman of the House Financial Services Committee, Patrick McHenry, has informed that this step is in response to the growing challenges facing stablecoins, which seek to address the issue of extreme volatility encountered by traditional cryptocurrencies like Bitcoin. The committee aims to establish a legislative framework to regulate the use and trading of stablecoins with the goal of ensuring their stability and investor confidence.

The legislation is expected to include requirements for companies participating in the stablecoin market, such as adhering to security standards, transparency, and disclosure of financial information. It may also involve the creation of regulatory bodies specific to stablecoins to monitor the development of this market and investigate potential violations.

Although these legislations may result in changes in the stablecoin industry, their aim is to enhance market stability and improve the investment climate. It is expected that these legislations will contribute to building trust in stablecoins and expanding their usage in various financial activities.

SourceTheBlock

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