Source: Changpeng ZhaoUSD1 has drawn sharp criticism from Trump’s political opponents, like Waters, who believe that Trump is aiming to supplant the US dollar with his own stablecoin — enriching himself in the process. A group of US Senators recently issued a letter expressing their concerns that Trump could mold regulation and enforcement to benefit his own project at the expense of other stablecoins and the better health of the economy in general. No interest for stablecoins, says CongressCoinbase CEO Brian Armstrong wants to take on banks, or so he claims, by offering American investors interest on their stablecoin holdings far above what they get in a traditional savings account. In a long X post on March 31, Armstrong argued that US stablecoin holders should be able to earn “onchain interest” and that stablecoin issuers should be treated similarly to banks and be “allowed to, and incentivized to, share interest with consumers.” Related: US lawmakers advance anti-CBDC billHis proposal has faced headwinds in Congress.
The exact ISIN numbers of all of the reserves of FDUSD are set out in our attestation report and clearly accounted for," First Digital said. Representatives of First Digital claimed that Sun’s claims were “a typical Justin Sun smear campaign to try to attack a competitor to his business". Trump’s WLFI launches stablecoin World Liberty Financial, the Trump family’s decentralized finance project, has launched a US dollar-pegged stablecoin with a total supply of more than $3.5 million.
Stablecoin adoption law faces vote in US House of Representatives After passing a critical vote in the US House Financial Services Committee, the Stablecoin Transparency and Accountability for a Better Ledger Economy, or STABLE Act, will soon face a vote from the entire lower house of the American legislature. Source: Financial Services GOPThe bill provides ground rules for stablecoins in payments, stablecoins tied to the US dollar and disclosure provisions for stablecoin issuers.
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