The US Congress is currently considering the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act, which aims to regulate stablecoins by requiring issuers to obtain a banking charter, maintain reserves that back the stablecoin at a 1:1 ratio, and be subject to regular examinations by federal regulators. The proposed legislation has sparked debate, with some arguing that it would stifle innovation and limit market entry, while others argue that it is necessary to protect consumers and the financial system.

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