Biden admin weighing bank-like regulation for stablecoin issuers By Cointelegraph

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The Biden administration is reportedly contemplating a brand new authorized framework for stablecoin issuers that may put them in the identical class as banks, elevating questions on the way forward for crypto regulation within the nation.

Citing folks acquainted with the matter, The Wall Road Journal reported Friday that the administration is seeking to persuade Congress to create a brand new “special-purpose constitution” for stablecoin issuers and different firms that fall throughout the similar class. Though it’s not fully clear how the laws will look, it’s anticipated to be tailor-made particularly to a majority of these enterprise fashions.