Forbes: New Stablecoin Bill May Be Introduced in the US Senate This Week

According to BlockBeats, on April 10, Forbes reported that New York Democratic Senator Kirsten Gillibrand said that she is expected to launch new stablecoin legislation with Wyoming Republican Senator Cynthia Lummis later this week or next week. Gillibrand described their goal: "Unleash the potential of cryptocurrencies and realize Bitcoin's original goal as a payment tool. We work with the Federal Reserve, the Treasury Department and the New York State Department of Financial Services to allow non-depository institutions to issue stablecoins while promoting the safety and soundness of the industry." Patrick McHenry, chairman of the U.S. House Financial Services Committee, said stablecoins would be an important first step in developing broader U.S. cryptocurrency laws.