Pro-Bitcoin Senator Cynthia Lummis is drafting regulations for stablecoins after attacking major stablecoin firm Tether in 2023.
Pro-Bitcoin (BTC) United States Senator Cynthia Lummis is drafting regulations for stablecoins, a type of cryptocurrency pegged to real-world assets to ensure stable prices.
Lummis has been working jointly with Senator Kirsten Gillibrand for several months on a bill aiming to provide regulatory clarity for stablecoins and protect investors, the U.S.-based news agency Axios reported on March 7.
Citing several spokespeople for Lummis and Gillibrand’s offices, the report notes that the senators hope to officially announce the news following encouraging feedback from multiple stakeholders.
