{"id":1304,"date":"2024-04-25T00:22:26","date_gmt":"2024-04-25T00:22:26","guid":{"rendered":"https:\/\/cryptogoldex.com\/index.php\/2024\/04\/25\/us-senate-bill-opens-opportunity-for-us-banks-to-embrace-stablecoins-says-sp\/"},"modified":"2024-04-25T00:22:26","modified_gmt":"2024-04-25T00:22:26","slug":"us-senate-bill-opens-opportunity-for-us-banks-to-embrace-stablecoins-says-sp","status":"publish","type":"post","link":"https:\/\/cryptogoldex.com\/index.php\/2024\/04\/25\/us-senate-bill-opens-opportunity-for-us-banks-to-embrace-stablecoins-says-sp\/","title":{"rendered":"US Senate bill opens opportunity for US banks to embrace stablecoins, says S&#038;P"},"content":{"rendered":"<p>The Payment Stablecoin Act, introduced on April 17, has drawn attention from financial institutions and market watchers alike. Furthermore, it mandates that stablecoin issuers maintain one-to-one cash or cash-equivalent reserves.<\/p>\n<p>According to S&#038;P Global Ratings, should the bill pass and subsequent banking regulations be adapted, banks could gain a competitive edge. Institutions lacking a banking license would be restricted to issuing no more than $10 billion in stablecoins, potentially limiting the operations of large entities such as Tether.<\/p>\n<p>Tether, recognized as the leading stablecoin by volume, is issued by a non-U.S. entity and would not comply with the stipulations of the proposed Payment Stablecoin Act. The non-compliance would prevent U.S. entities from holding or transacting in Tether, likely decreasing its demand while favoring stablecoins issued within the U.S.<\/p>\n<p>S&#038;P pointed out that Tether\u2019s transactions mostly took place outside of the U.S. and were mostly fueled by retail, remittances, and transactions in emerging economies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Payment Stablecoin Act, introduced on April 17, has drawn attention from financial institutions and market watchers alike. Furthermore, it mandates that stablecoin issuers maintain [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1303,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[413],"tags":[],"class_list":["post-1304","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-regulation-and-stablecoins"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/posts\/1304","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/comments?post=1304"}],"version-history":[{"count":0,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/posts\/1304\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/media\/1303"}],"wp:attachment":[{"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/media?parent=1304"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/categories?post=1304"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptogoldex.com\/index.php\/wp-json\/wp\/v2\/tags?post=1304"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}