Federal regulators want to slap bank-like rules on stablecoins
CNN
Regulators have long been circling cryptocurrencies. Now they have a new target: stablecoins.
A Monday report from the President's Working Group on Financial Markets, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency urged Congress to slap bank-like rules on the assets.
The selling point of stablecoins is in the name: their value is meant to fluctuate less than other digital currencies because they are pegged to a real-world asset — in many cases, the US dollar.
Millions of Americans have taken to the skies, hit the road, fired up the barbecue grill and jumped into the pool this weekend to celebrate the start of summer 2024. Analysts are expecting the Memorial Day weekend to usher in yet another summer of strong consumer spending on travel and other leisure activities.