Buy $GGsCircle Executive To Testify In US House Committee Hearing On Stablecoins
Crypto News: A US House Committee on Financial Services is set to hold a hearing on “Understanding Stablecoins’ Role in Payments and the Need for Legislation” next week. The hearing could be centered around the potential of stablecoins to support beneficial payment options. However, the committee could also address risks to users and the broader financial system. The stablecoin market is key to the liquidity in crypto market as the pegging to the US Dollar provides easy access to fiat currency.
Also Read: Terra Classic Community Remains Divided On Key Proposal, LUNC Price To Fall?
The recent banking crisis in the United States highlighted the use of cryptocurrencies and especially stablecoins as concerns rose about safety of deposits in bank accounts. This led to investors looking for alternate ways to store value in challenging times. However, stablecoins too had their fair share of worries as these Dollar pegged coins face risk of losing the peg to the $1 value. Meanwhile, the Members of the Committee on Financial Services will hold a hearing about stablecoins on April 19, 2023.
Circle’s Executive To Testify
The hearing will feature, among others, Dante Disparte, Chief Strategy Officer and Head of Global Policy of Circle, the company behind USDC. A report on stablecoins by the President’s Working Group on Financial Markets (PWG) in November 2021 observed that these cryptocurrencies could improve efficiency in retail payments if a clear
regulatory framework is laid out. Hence, lawmakers are looking at this category for constructive usage, although a timeline is not set for regulatory clarity.
Also Read: Cardano (ADA) Price Is Breaking Above Key Levels, Will It Hit $1 In 2023?
Play 10,000+ Casino Games at BC Game with Ease
- Instant Deposits And Withdrawals
- Crypto Casino And Sports Betting
- Exclusive Bonuses And Rewards
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Crypto Market Bill Hits New Deadlock as Banks Reject White House Deal
- Why Experts Are Warning Bitcoin Rally Could Be A “Dead Cat Bounce”
- BTC and Gold Price Bounce as Trump Admin Brokers US-Venezuela 1000 Kg Gold Deal
- SEC Advances Major Crypto Securities Plan to White House for Approval
- Peter Brandt Flips Bullish, Predicts Bitcoin Rally As Price Holds Above $70k
- Pi Network Price As BTC Rallies Above $74K: Can PI Coin Extend Gains to $0.30?
- XRP Price As Bitcoin Reclaims $74K- Is $5 Next?
- Dogecoin Price Outlook as BTC Recovers Above $73,000
- XRP Price Prediction as Iran-U.S. Peace Talks Trigger a Crypto Rally
- COIN Stock Analysis as Bitcoin Retests $72k Ahead of February NFP Data
- Robinhood Stock Price Prediction As Cathie Wood Buys $12M Dip in Bold ARK Move
