Powerful blockchain lobby group urges Washington not to overregulate stablecoins
The stablecoin market is valued at over $130 billion and growing rapidly, putting federal regulators on high alert over systemic risk. A high-profile blockchain lobby group is urging United States lawmakers to adopt a “technology-neutral” approach when it comes to stablecoin regulation, arguing that dollar-pegged cryptocurrencies do not pose a system risk to the financial system.In a 17-page letter addressed to the President’s Working Group on Financial Markets, which includes regulators from the Department of Treasury and Federal Reserve, the Chamber of Digital Commerce outlined a....
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