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The bill was originally slated to be introduced last week, but Republicans and Democrats are still going back and forth on key issues

Draft text for a bipartisan stablecoin bill could reportedly be delayed until after Congress’ August recess

The news comes as regulators around the world continue to consider how to deal with the aftermath of TerraUSD’s collapse

“We’ve always said when there’s downturns in the market that’s our chance to grow,” Chainalysis’ Lenfield told Blockworks in an interview

MiCA will increase transparency around stablecoin reserves, carbon emissions and crypto exchange practices

Highlights of the report include greater guidance around stablecoins and an emphasis on needing to “watch out for instability and crime from digital assets”

Corporations are in an arms race to provide immediate 24/7 global settlements, and stablecoins are the solution

The new legislation, which comes into effect in 2023, defines stablecoins as digital money and restricts issuance to licensed financial institutions

Blockchain Association’s director of government relations said concrete actions likely to come in 2023

Industry members weigh in on how the fall of TerraUSD might affect government policy relating to a central bank digital currency