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Will Stablecoins Be Tethered to the Fed? Lawmakers Have Circled That Option

The U.S. central bank may get a leading role in policing stablecoins, according to legislation being negotiated in the House of Representatives. Crypto analysts weigh what that means.

U.S. lawmakers are negotiating legislation that could name the Federal Reserve as the chief watchdog of stablecoin issuers. (Jesse Hamilton/CoinDesk)
U.S. lawmakers are negotiating legislation that could name the Federal Reserve as the chief watchdog of stablecoin issuers. (Jesse Hamilton/CoinDesk)