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Stablecoin Firms Face Tough Reserve, Capital Demands in US Bill, Source Says

Digital tokens such as tether and Circle’s USDC that are vital to functional crypto markets would have to meet stringent new requirements in legislation that’s close to the finish line.

By Jesse Hamilton

Updated May 11, 2023, 6:32 p.m. Published Jul 20, 2022, 9:01 p.m.

U.S. Rep. Patrick McHenry, the top Republican on the House Financial Services Committee, and Chairwoman Maxine Waters (Sarah Silbiger-Pool/Getty Images)