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Regulators’ Stablecoin Report Met With Bipartisan Pushback

The President’s Working Group suggested Congress enact legislation that would limit stablecoin issuance to insured depository institutions, but this appears to be a nonstarter among the crypto-literate on Capitol Hill.

Rep. Tom Emmer (R-Minn.) (Stephen Maturen/Getty Images)
Rep. Tom Emmer (R-Minn.) (Stephen Maturen/Getty Images)