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Congress asked to set up regulatory framework for digital currency
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The Biden administration has taken the first significant step to impose bank-like oversight on the cryptocurrency companies involved in the issuance of stablecoins, outlining a process that could shape the future of that digital money.
On 1 November, a Treasury-led panel recommended that Congress impose a new regulatory framework around stablecoins — digital currencies pegged to national currencies such as the US dollar — and limit the issuance of such digital assets to banks. The legislative
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