Episode 12 of Season 4 of The Scoop was recorded remotely with The Block’s Aislinn Keely and senior policy reporter Kollen Post.
Track live crypto price of 10000+ coins!
This episode is brought to you by our sponsors Fireblocks, Coinbase Prime & Chainalysis
Fireblocks is an enterprise-grade platform delivering a secure infrastructure for moving, storing, and issuing digital assets. Fireblocks enables exchanges, lending desks, custodians, banks, trading desks, and hedge funds to securely scale digital asset operations through the Fireblocks Network and MPC-based Wallet Infrastructure. Fireblocks serves over 725 financial institutions, has secured the transfer of over $1.5 trillion in digital assets, and has a unique insurance policy that covers assets in storage & transit. For more information, please visit www.fireblocks.com.
About Coinbase Prime
Coinbase Prime is an integrated solution that provides institutional investors with an advanced trading platform, secure custody, and prime services to manage all their crypto assets in one place. Coinbase Prime fully integrates crypto trading and custody on a single platform, and gives clients the best all-in pricing in their network using their proprietary Smart Order Router and algorithmic execution. For more information, visit www.coinbase.com/prime.
Chainalysis is the blockchain data platform. We provide data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies in over 60 countries. Our data powers investigation, compliance, and market intelligence software that has been used to solve some of the world’s most high-profile criminal cases and grow consumer access to cryptocurrency safely. Backed by Accel, Addition, Benchmark, Coatue, Paradigm, Ribbit, and other leading firms in venture capital, Chainalysis builds trust in blockchains to promote more financial freedom with less risk. For more information, visit www.chainalysis.com.
The United States Congress turned its attention to stablecoins this month, with senior Treasury official Nellie Liang fielding a range of questions during twin hearings in the House of Representatives and the Senate.
The hearings centered on a recent report on stablecoins penned by members of the President’s Working Group, which Liang oversaw. That report urged Congress to create “rules of the road” for stablecoin issuers, mainly by restricting stablecoin issuance to insured depository institutions (IDIs).
The Treasury has already designated stablecoins a “systemic risk” for the Financial Stability Oversight Council, meaning that if Congress fails to act, the council can step in. Liang told the House and the Senate that she believes in flexibility for any charter standards related to stablecoin issuers. In the meantime, proposals are beginning to float around the Hill.
During this week’s Policy Scoop, The Block’s Aislinn Keely sits down with The Block’s senior policy reporter, Kollen Post. Post was in attendance for both hearings and has been on the ground tracking the stablecoin regulation landscape from report to proposals.
Keely and Post also discuss:
- Why stablecoins are top of mind for Congress and the Treasury
- The key proposals in the President’s Working Group report on stablecoins
- What transpired at both the House and Senate hearings
- The proposals taking shape around stablecoin issuance
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Download MAXBIT Android App, Your best source of all crypto news!
Share this article: