US Stablecoin Report Gets Mixed Reviews From Crypto Industry

Posted on by American Coins & Gold

US Stablecoin Report Gets Mixed Reviews From Crypto Industry
To hear them tell it, stablecoin issuers’ prayers have been answered.Two of the top 10 issuers hailed this week’s report from the President’s Working Group (PWG) on Financial Markets, which recommended stricter oversight of this mushrooming part of the cryptocurrency market, as a welcome step toward regulatory clarity.“We are fully supportive of the call for Congress to act and establish federal banking supervision for stablecoin issuance,” said Jeremy Allaire, co-founder and chairman of Circle, which manages USD coin (USDC), the second-largest such token.“This is huge progress in the acceptance of stablecoins and provides a path for their adoption,” Allaire said…