What is the STABLE Act? The STABLE Act, or the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, is a proposed bill in the United States that aims to regulate stablecoins, or digital assets that are pegged to a stable asset like the US dollar. This bill was introduced by Representatives Rashida Tlaib, Jesus "Chuy" Garcia, and Stephen Lynch in December 2020. Why is it controversial? The STABLE Act has faced criticism from the crypto community and industry experts for its potential negative impact on innovation and development in the crypto space. Many argue that this bill would stifle competition and hinder the growth of stablecoin projects, ultimately harming consumers and the overall economy. Trump-linked stablecoin ventures under scrutiny As the STABLE Act gains traction, there has been increasing scrutiny of stablecoin ventures with ties to former President Donald Trump. This includes the controversial stablecoin p...
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