#StablecoinLaw The United States Congress has passed historic legislation on cryptocurrencies, establishing a regulatory framework for stablecoins.

These stablecoins are a type of cryptocurrency backed by assets. The law requires that stablecoin issuers comply with existing laws and that stablecoins maintaining the same price as the United States dollar (USD) are backed by liquid reserves. A provision of the law prohibits members of Congress and their families from profiting from stablecoins.