US SEC can control stablecoin regulation, new rules will be detailed shortly (report)

Von Krypto News Österreich

Thanks to the growing influence of stable coins on the financial system, the supervisory authorities around the world are trying to regulate the sector.

The stable coins area has come closer to the obtaining regulatory clarity, since the US stock exchange supervisory authority SEC [sec] has prepared to suggest laws and to monitor the 131-billion dollar industry.

US Financial Watchdog prepares regulations for stablecoin

Citing the matter with the matter, Bloomberg reports that the developments related to the authority of the SEC on the StableCoin legislation from this week Ministry of Finance will be officially announced.

The cumulative market capitalization of stablecoins has been far above expectations since the beginning of the year. This cohort in the industry has moved away from a sensible regulation. Fast growth and limited transparency have managed to attract considerable attention worldwide. However, it is expected that the upcoming report will bring some light to the regulatory authority of the Commodity Futures Trading Commission [CFTC] and the Ministry of Finance with regard to the cryptos, which 1: 1 of Fiat currencies like Tether. are coupled [USDT]. In addition to the involvement of these agencies, the report in question should also be clarified how the congress wants to regulate the stable coin sector.

It was the chairman Gary Gensler behind the scenes who urged the legislator to authority and other changes. In a (n Interview compared to the Washington Post at the end of September These tokens with poker chips in a casino.

StableCoin-induced transformation of the payment landscape

The US regulatory authorities are not the only ones who work on an supervision of the Stablecoin Market. Several financial institutions, including the International Organization of Securities Commissions [IOSCO] and Committee on Payments and Market Infrastructures [CPMI], have investigated opportunities to consider standards for stable coins.

CPMI chairman and deputy governor for financial stability at Bank of England, Sir Jon Cunliffe, had previously specified ,

"The payment landscape has changed rapidly in recent years and is developing steadily. This is done at the same time, since financial innovations offer the prospect of new payment services and more competition in payment transactions, but also offer potential risks for the financial system."

The SEC is generally known for its hard attitude towards the cryptocurrency industry. But supporters, such as Michael Saylor of Microstrategy,

.