#USStablecoinBill This topic is very vital right now, especially after the issues that have arisen in recent years with certain stablecoins that have lost their peg to the dollar (like what happened with UST).

Let me clarify the heart of the debate surrounding this law:

The U.S. government wants to ensure that any dollar-pegged stablecoin is fully backed by real reserves (dollars or U.S. Treasury bonds, for example).

The Federal Reserve could become the entity that oversees the issuance of stablecoins, which could limit certain major players in crypto or force them to comply with financial laws.

The stated goal is to protect consumers and reduce risks to the financial system, especially as stablecoins have started to be widely used in financing and trading.