California Assembly Passes Crypto Regulation Bill That Requires Bank-Issued Stablecoins

Se fosse accaduto qui, saremmo a stracciarci le vesti di come l’Italia sia un paese retrogrado, che combatte l’innovazione, con politici giurassici, ecc. ecc.
Ma accade in California…

Non mi sconvolge il fatto che ci sia un obbligo di vigilanza. Da’ fiducia al sistema. Piuttosto l’obbligo di una riserva integrale mi pare proprio eccessivo.

Source: Coindesk

California Assembly Passes Crypto Regulation Bill That Requires Bank-Issued Stablecoins

California Gov. Gavin Newsom is set to sign a recently passed bill that would require digital asset exchanges and other crypto companies to obtain a license to operate in the state.

The Digital Financial Assets Law, dubbed California’s “BitLicense,” takes after New York’s BitLicense regulation, which came into effect in 2015. California’s law, if signed by Newsom, a Democrat, would go into effect in January 2025.

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Among the requirements is a prohibition, which would be phased out in 2028, on California-licensed entities dealing with stablecoins, unless that stablecoin is issued by a bank or is licensed by the California Department of Financial Protection and Innovation. This is similar to a proposed (and never passed) bill in the U.S. Congress that would require stablecoin issuers to have a bank charter.

Another clause in the stablecoin section of the bill would require stablecoin issuers that hold securities as a reserve to have an amount “not less than the aggregate amount of all of its outstanding stablecoins issued or sold in the United States.”

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