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The regulation of stablecoins in the United States > 자유게시판
The regulation of stablecoins in the United States
작성일작성일: 2025-07-06 13:53The introduction of the Lummis-Gillibrand Payment Stablecoin Act has spurred all sorts of speculation and criticism. The big question is whether members of Congress will attach the bill to "must pass" legislation, such as the reauthorization of the Federal Aviation Administration. Think of it like a casino – to play the games, you need to trade in your cash for casino chips. To learn more about Bitline and the coming new era of Blockchain payment access for the casino industry, see Bitline at the Everi booth (#1150) at G2E 2023.
You are right that trying to be stable makes things more systematically risky. If Tesla stock drops by 20% over night, some people are going to lose money, but the finance system won't collapse. If the day ever comes where it has moved beyond these risks, it certainly won’t be at today’s price anymore. Today’s price is a manifestation of market participants’ ongoing education about the asset and xxx videos porn sites then that market’s assessment of the forward probability of the Bitcoin network continuing to succeed through various challenges. And as such, I size my position size with those considerations in mind.
While the exact plan is yet to be released, the US and other governments appear set on making sure stablecoins can live up to their name. Gensler also told the US Senate last month that stablecoins might qualify as securities. Republican Senator Pat Toomey pushed back on that assertion, saying that stablecoins do not pass the Howey test, a Supreme Court standard for determining whether something is a regulated security.
The introduction of the Fusion Stablecoin Bridge marks a significant milestone in the evolution of cross-chain liquidity and accessibility. At Zelcore, we have always been committed to providing access for all and supporting the industry’s growth. The Fusion Stablecoin Bridge enables users to navigate diverse blockchain ecosystems and pick the winners and losers based on their own preferences, promoting universal access and utility across all blockchains. The Fusion Stablecoin Bridge brings numerous advantages to both blockchain communities and individual users. By providing stablecoin options for entry and exit, the bridge addresses liquidity challenges faced by many high-utility blockchains outside the top ranks.
In the post 9/11 financial crime compliance framework, the development of many of the technologies we now enjoy and take for granted, such as encryption, smart phones, public blockchains, state of the art financial forensic solutions, did not exist. As a result, national security trumped financial access for fear that even a small number of bad actors would make an errant transaction, entire continents were cut off from the financial system. The cost of de-risking made even well-intentioned banks and financial service providers reluctant to come up with new ways of serving the so-called base of the pyramid. The added costs of de-risking plus the slow pace of decoupling banking from brick and mortar made it infeasible to provide poor people with safe financial access.
Courts generally have analysed ‘common enterprise’ as a distinct element of an investment contract. However, there is a split in authority among the federal circuit courts regarding what constitutes a ‘common enterprise’. The courts are divided regarding whether horizontal or vertical commonality is required (and, in the latter case, whether the broad or narrow variety is required) to satisfy the Howey common enterprise requirement. This article is an extract from GTDT - Cryptoassets & Blockchain 2024.
"I do really fear that we’ll keep bringing these enforcement cases, but there’s going to be a problem. There’s going to be a problem on lending platforms, on trading platforms. To that end, the SEC and CFTC have broad enforcement, rulemaking and oversight authorities over transactions and participants falling within their respective jurisdictions to address investor protection and market integrity risks. Since the Report on Stablecoins, the chair of the SEC and other SEC commissioners have indicated in numerous articles that stablecoins are or may be securities, are subject to the jurisdiction of the SEC and that regulation of stablecoins is coming. Issuing fully backed tokens is not the same as taking deposits and making loans, and it is not creating new money. Issuing fully backed stablecoins merely tokenizes existing money, kind of like creating digital poker chips.
You are right that trying to be stable makes things more systematically risky. If Tesla stock drops by 20% over night, some people are going to lose money, but the finance system won't collapse. If the day ever comes where it has moved beyond these risks, it certainly won’t be at today’s price anymore. Today’s price is a manifestation of market participants’ ongoing education about the asset and xxx videos porn sites then that market’s assessment of the forward probability of the Bitcoin network continuing to succeed through various challenges. And as such, I size my position size with those considerations in mind.
While the exact plan is yet to be released, the US and other governments appear set on making sure stablecoins can live up to their name. Gensler also told the US Senate last month that stablecoins might qualify as securities. Republican Senator Pat Toomey pushed back on that assertion, saying that stablecoins do not pass the Howey test, a Supreme Court standard for determining whether something is a regulated security.
The introduction of the Fusion Stablecoin Bridge marks a significant milestone in the evolution of cross-chain liquidity and accessibility. At Zelcore, we have always been committed to providing access for all and supporting the industry’s growth. The Fusion Stablecoin Bridge enables users to navigate diverse blockchain ecosystems and pick the winners and losers based on their own preferences, promoting universal access and utility across all blockchains. The Fusion Stablecoin Bridge brings numerous advantages to both blockchain communities and individual users. By providing stablecoin options for entry and exit, the bridge addresses liquidity challenges faced by many high-utility blockchains outside the top ranks.
In the post 9/11 financial crime compliance framework, the development of many of the technologies we now enjoy and take for granted, such as encryption, smart phones, public blockchains, state of the art financial forensic solutions, did not exist. As a result, national security trumped financial access for fear that even a small number of bad actors would make an errant transaction, entire continents were cut off from the financial system. The cost of de-risking made even well-intentioned banks and financial service providers reluctant to come up with new ways of serving the so-called base of the pyramid. The added costs of de-risking plus the slow pace of decoupling banking from brick and mortar made it infeasible to provide poor people with safe financial access.
Courts generally have analysed ‘common enterprise’ as a distinct element of an investment contract. However, there is a split in authority among the federal circuit courts regarding what constitutes a ‘common enterprise’. The courts are divided regarding whether horizontal or vertical commonality is required (and, in the latter case, whether the broad or narrow variety is required) to satisfy the Howey common enterprise requirement. This article is an extract from GTDT - Cryptoassets & Blockchain 2024.
"I do really fear that we’ll keep bringing these enforcement cases, but there’s going to be a problem. There’s going to be a problem on lending platforms, on trading platforms. To that end, the SEC and CFTC have broad enforcement, rulemaking and oversight authorities over transactions and participants falling within their respective jurisdictions to address investor protection and market integrity risks. Since the Report on Stablecoins, the chair of the SEC and other SEC commissioners have indicated in numerous articles that stablecoins are or may be securities, are subject to the jurisdiction of the SEC and that regulation of stablecoins is coming. Issuing fully backed tokens is not the same as taking deposits and making loans, and it is not creating new money. Issuing fully backed stablecoins merely tokenizes existing money, kind of like creating digital poker chips.