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The House of Representatives and Senate are considering two bills to regulate payment stablecoins with federal and state-level authorities.<\/p>\n
Ivan Soto-Wright, CEO of cryptocurrency payment firm MoonPay, is calling on US lawmakers to leave a path open to state-level regulators when passing legislation on stablecoins.<\/p>\n
In an April 18 X post, Soto-Wright said<\/a> he wanted Congress to \u201ckeep state-regulated issuers in the game<\/a>\u201d when it comes to stablecoin regulation, referencing efforts in the House of Representatives and Senate to create a federal regulatory framework. Lawmakers are considering whether to pass the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, in the Senate and the Stablecoin Transparency and Accountability for a Better Ledger Economy, or STABLE Act, in the House.<\/p>\n \u201cWhile the cryptocurrency industry has called for federal legislation for years, it has been these state regulators who have provided and continue to provide regulatory clarity and supervision to ensure consumer protection and enable growth in the sector,\u201d said Soto-Wright. \u201cAs federal legislation now app<\/a>roaches the finish line, it is essential to preserve viable state pathways for PSIs [permitted stablecoin issuers] that place the state regulators who meet the standards set out in GENIUS and STABLE on equal footing with federal regulators.\u201d<\/p>\n Read more<\/p>\n<\/p>\n If you liked the article, do not forget to share it with your friends. Follow us on\u00a0Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n\n