Examining the STABLE Act Proposal, Part I

On December 2nd, 2020, a proposal for the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act was announced by members of the 116th United States Congress. The bill’s discussion draft was introduced by Congresswoman Rashida Tlaib (MI-13), Congressman Jesús “Chuy” García (IL-04) and Chairman of Task Force on Financial Technology Rep. Stephen Lynch (MA-08).

If the STABLE Act proposal were to become law in its current form, the potential implications for the digital assets, technology and financial services industries could be extensive. As such, this two-part series will take a closer look at the proposed legislation, reactions from the digital assets community, what the bill could mean for node operators and where this might be heading next?