New Draft Legislation Proposes Two-Year Ban on Stablecoins Like TerraUSD

Next week, the House Financial Services committee will vote on legislation to regulate stablecoins. As per details, the draft bill proposes a complete two-year ban on algorithmic stablecoins like the TerraUSD. The TerraUSD stablecoin witnessed a severe crash earlier this year in May 2022 eroding more than $40 billion of investors’ wealth. Since then, the

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