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The invoice, accessible on the Committee’s listening to web page, represents the primary main piece of crypto laws to maneuver in 2023. It creates definitions for cost stablecoin issuers, echoing a time period former Senator Pat Toomey (R-Pa.) used when he launched his personal stablecoin invoice in 2022. The invoice additionally requires a moratorium on new stablecoins which can be backed by different kinds of tokens till a research may be carried out.
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