Biden Official Reveals Crypto Plans Amid $2 Trillion Terra Luna Led Bitcoin, Ethereum, BNB, XRP, Solana, Cardano And Dogecoin Price Crash
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Bitcoin BTC and cryptocurrencies have been hard hit this year by a brutal crash that's sent the price of major cryptocurrencies into a tailspin. U.S. president Joe Biden could sign stablecoin legislation into law later this year, according to reports. Stablecoins, cryptocurrencies that are price pegged to traditional currencies such as the U.K. dollar, are used to facilitate payments and ease entry to certain cryptocurrency exchanges that don't support direct deposits. In Europe, lawmakers this week secured an agreement on tough new rules designed to ensure stablecoins maintain ample reserves to meet redemption requests in the event of mass withdrawals. E.U. lawmaker Stefan Berger said the rules would "put order in the Wild West of crypto assets," adding the rules "will provide legal certainty for crypto-asset issuers" Source