On the other, the SEC would keep its regulatory oversight of digital assets that give investors a right to profits, liquidation preferences, and other financial interests in a business entity.
As for stablecoins, the bill would keep consumers protected by forcing stablecoin projects to establish 100% reserve, asset type, and detailed disclosures. “This guarantees that a payment stablecoin holder can always redeem the stablecoin in exchange for the equivalent dollar value,” the senators said.
The changes are likely to be friendly to the crypto industry and could help the sector flourish under more regulations. However, it would take years for the bill to turn into a law.
