Treasury Stablecoin Proposal Draws Questions Over Foreign Access
By PYMNTS
AI summary of the source article
The U.S. Treasury published a proposed rule on Aug. 18 to implement statutory restrictions on issuing payment stablecoins. The effort centers on questions regarding issuer identity, issuance timing, and how foreign-created stablecoins can legally reach U.S. customers.
Key facts
- Treasury published a proposed rule on Aug. 18 to regulate payment stablecoins.
- The proposed rule would implement statutory restrictions on issuing payment stablecoins in the United States.
- The effort hinges on determining when a coin is issued, who issued it, and how foreign-created stablecoins can reach U.S. customers.
Source excerpt · PYMNTS
Treasury’s effort to regulate payment stablecoins hinges on questions on when a coin has actually been issued, who issued it and how a stablecoin created outside the country can legally reach a customer in the United States. The department’s proposed rule, published Aug. 18, would implement statutory restrictions on issuing payment stablecoins in the United […] The post Treasury Stablecoin Proposa…