Rep. Warren Davidson: Stablecoin bill has 'outside chance' of finalizing this...
Earlier this week, new draft legislation on stablecoins came to light aimed at “endogenously collateralized stablecoins.” There is a small chance the U.S. House of Representatives could pass the bill to regulate stablecoins by year-end, though it's more likely it will pass in the first quarter of 2023, says U.S. Congressman Warren Davidson. According to a Thursday report from Kitco, Davidson made the remarks at the Annual Fintech Policy Forum on Sept. 22, where he suggested: "There's an outside chance we find a way to get to consensus on a stablecoin bill this year."The “stablecoin bill”....
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U.S. Representative Warren Davidson has reintroduced the Token Taxonomy Act to provide regulatory clarity around digital currencies.
But the bill is unlikely to become law any time soon. On Wednesday night, Congresswoman Rashida Tlaib introduced a bill before the U.S. House of Representatives looking to make fiat-pegged stablecoin operators abide by the same rules and registration requirements expected of banks.The legislation, under the name “the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act,” sets out a fresh and extremely expansive definition of stablecoin. It furthermore dictates a series of limitations that outlaw stablecoin issuance for any entity that is not “an insured depository institution....
“Been working on that since 2016. Unbelievable that Congress won’t unite to end the unjust, immoral, and unconstitutional practice of civil asset forfeiture,” said congressman Warren Davidson. Ohio’s eighth district congressman Warren Davidson has introduced the “Keep Your Coins” bill in the House of Representatives to protect individuals’ self-custodied crypto wallets from U.S. government agency control.The introduction on Feb. 15 comes just a day after the Canadian government invoked the Emergencies Act, giving it the power to freeze bank accounts and monitor large transactions....
Representative Warren Davidson joined the "Bitcoin Magazine Podcast" to discuss bitcoin, Congress and the "Token Taxonomy Act."