U.S. Stablecoin Bill Would Rein In Tether, Boost Coinbase And Circle, Outlaw Algorithmics [Forbes]
Coinbase Global, Inc. - Class A (COIN)
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Source: Forbes
What Happened Senators Cynthia Lummis (R-Wyo.) and Kirsten Gillibrand (D-N.Y.) introduced the Payment Stablecoin Act of 2024 on April 17. Gillibrand called it a “landmark bipartisan legislation that creates a clear regulatory framework for payment stablecoins that will protect consumers, enable innovation, and promote U.S. dollar dominance while preserving the dual banking system.” The proposed law would bring oversight and transparency to the $150 billion stablecoin industry and could be the first major crypto legislation enacted in the United States. It would also make it easier for state and federally regulated banks to take custody of digital assets on behalf of customers. Key Background The bill would permit stablecoins—tokens meant to maintain a stable value, usually $1—to be issued by nondepository trust companies (nonbanks) when the nominal value of all its tokens is under $10 billion. A larger issuer would have to be “a depository institution authorized as a national pay
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Earnings
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COIN
Sec Filings
- 5/3/24 - Form 144
- 5/3/24 - Form 4
- 5/2/24 - Form 4
- COIN's page on the SEC website