SWEEEPING REFORMS AND EFFECT ON STABLE COINS (The Digital Assets Market Structure and Investor Protection Bill.) The sweeping legal reforms and the down-under solution The “Digital Asset Market Structure and Investor Protection Bill” seeks to prohibit stable coins. Proposed US Code section 5104(a) provides that “no person may issue, use or permit to be used a digital asset fiat-based stablecoin that is not approved by the Secretary of the Treasury”. Section 5104(4) makes clear that there will be “no grandfathering of existing digital asset fiat-based stablecoins”. Unless some approval is given to USDC or USDT, these crypto assets are
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