(Image: Kevin Dietsch/Pool via Reuters)
THE Senate of the United States recently failed to pass the law that regulates the segment of stablecoins in the country, the so -called Genius Act. Besides creating a regulatory basis for the cryptocurrency with ballast on dollarthe measure also aims to establish a framework for innovation in the digital assets.
“The rejection of the proposal represents a significant setback, which now faces a more uncertain future,” he says Caio BarbosaCEO of LumxBrazilian Company of Technology Specialized in Infrastructure for Stablecoins, in Publication on LinkedIn.
According to Barbosa, internal political disputes, especially involving the national security focus and money anti-lavage issues, damaged the bipartisan alliance that supported the proposal-some credit these tensions to US President Donald Trump’s “tariff” policies.
“Without a clear regulatory framework, the StableCoins market remains vulnerable to fragmented regulations and legal uncertainty,” says the executive.
Federal Reserve warns of regulation of stablecoins
This Wednesday (14), the Advisory Committee of Community Deposit Institutions (CDIAC), an entity linked to Federal Reserve (Fed, the Central Bank of the United States), warned the risks posed by stablecoins issued by non -bank institutions, suggesting regulatory measures.
Thus, CDIAC states that these actives without regulation could lead to a bank race situation, which is a risk to both the traditional market and for cryptocurrency platforms and brokers (exchanges).
Thus, the committee advised the integration of stablecoins existing regulatory systems, seeking to neutralize any risks.
“Stablecoins have a significant appeal, but we must prioritize the proper regulation to ensure the stability of our financial systems,” said Jerome Powell, president of the Federal Reserve, in a press conference for some time.
In addition, stablecoins can reduce banks’ loan capacity, especially for minor loans, which depend on local services. And without the same liquidity regulations, these coins could lead banks to decrease credit offers.
Source: Moneytimes
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