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US legislators may soon vote on the ingenious lawThe proposal of the Stablecoin Law on Stablecoin, after removing the parts that focused on President Donald Trump and his involvement in the crypto currency.
The two -page proposal had stopped on May 8 When the Democrats of Senata expressed concern about the language that looked focused on the personal crypto interests of President Trump. They include digital tokens, a trade platform, a stablecoin project and a mining company.
On Stand with cryptocurrencyan event hosted by Coinbase’s
2.04b USD
A group of politics on May 15, Senator Cynthia Lummis said Hopefully the Senate can make a law by the law by May 26which falls on Memorial Day.
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Joined her Senator Kirsten Gillibrandwhich confirmed that the revised version no longer targets the cryptocurrency of President Trump’s business activity. According to her, updated text now More focuses on topics such as user protection and what happens if a stable project bankrupt.
Gillibrand said the law was not written to resolve any ethical concerns associated with President Trump, although it includes some basic standards. She added that most of the president’s crypto activity is already violating existing laws. Gillibrand specifically called on the sale of Memecoin, who looked like an attempt to raise money in exchange for impact.
Coin Executive director Brian Armstrong, who also spoke at the event, avoided giving an opinion on the meme coins of President Trump. Although his company donated the inauguration of President Trump, Armstrong said it was important that Legislation remains focused on setting clear standards for stablecoins.
Meanwhile, Democratic members of the Congress recently requested an American treasury for records regarding the cryptocurrency projects associated with President Trump. What did they say? Read the whole story.
After a master’s degree in economics, politics and culture of the East Asia region, Aaron wrote scientific papers by analyzing the differences between Western and collective forms of capitalism in the Era after World War II.
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