Finance News

Story: Crypto Stablecoin Bill Hits Wall as Industry Anger Grows

By James Thorp

1 / 13

Industry Leaders Sound Off. Jane Doe, who runs a major crypto exchange, pretty much summed up what everyone's thinking.

2 / 13

Global Pressure Builds. International regulators are watching America's stablecoin drama closely.

3 / 13

Crypto folks are mad. The stablecoin regulation bill that everyone's been waiting for just crashed into a brick wall during Tuesday's Congressional committee meeting in…

4 / 13

Lawmakers spent hours going back and forth about stablecoins - those digital currencies pegged to the dollar - but came up empty.

5 / 13

Jane Doe, who runs a major crypto exchange, pretty much summed up what everyone's thinking. "This delay is detrimental," she said.

6 / 13

John Roe manages a cryptocurrency fund and sees the damage firsthand. Investment decisions get way harder when the regulatory landscape looks like a minefield.

7 / 13

The proposed legislation sits in limbo now. It needs enough support to get to a vote, but that's not happening anytime soon.

8 / 13

Not happening. This echoes themes explored in Goldman Sachs Launches Blockchain Platform as, underscoring the shifting landscape.

9 / 13

International regulators are watching America's stablecoin drama closely. European Central Bank President Christine Lagarde said on March 20 that global coordination is crucial…

10 / 13

SEC Chair Gary Gensler and CFTC officials keep fighting over who gets to regulate what in crypto.

11 / 13

Lobbying efforts have kicked into overdrive. The Blockchain Association's Kristin Smith has been making rounds on Capitol Hill, pushing for balanced rules that don't kill…

12 / 13

Binance didn't let regulatory uncertainty stop its plans. The exchange announced on March 26 it'll launch a euro-pegged stablecoin by year's end.

13 / 13

Representative Alice Johnson tried to break the deadlock with an amendment on March 22. Her proposal would create temporary guidelines for stablecoin issuers while Congress…

The Currency Analytics

Want the full story?