TechFlow news — According to sources familiar with the matter, under a new legislative proposal currently being negotiated by leaders of the U.S. House Committee on Financial Services, stablecoin-issuing companies would be required to operate under bank-like regulations and back their tokens with conservative assets.
The source said that offices of Committee Chair Maxine Waters and senior Republican member Patrick McHenry have tentatively agreed that stablecoins should be directly backed by assets such as cash and U.S. Treasuries—assets that remain stable even during market panics. The source also stated that stablecoin issuers would be required to maintain capital and liquidity buffers and be subject to oversight by regulatory authorities.
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