The US Congress submitted a bill on potentially hazardous stablecoins – Bits Media

Member of the US House of Representatives from New Jersey Josh Gotteimer introduced to Congress colleagues a new bill on stable digital coins.

The project is in the early stages of development and is designed to help identify stablecoins, which are potentially subject to fraudulent actions and collapse due to insufficient reserve capital.

The gottramer offers to mark more reliable stablecoins as "qualified", If they can be exchanged for US dollars in a ratio of one to one. Such stablecoins can be issued by the State Bank or Organization, which will agree to support at least 100% reserve assets in the form of US dollars or in the form of any other assets, which will consider the appropriate control of the controller of monetary circulation (OCC).

"I don't think, that we should suppress innovation in the cryptocurrency market. We are very closely cooperating with the treasury, as well as with the US Blockchain Association and other organizations in the cryptocurrency industry ", - said Gotteimer.

In mid -January, the head of the US Federal Reserve System Jerome Powell said, that stablecoins can be used with state digital currency and will soon be replaced by it.