This article is from The Wall Street Journal and may be behind a paywall. The report says that the Biden administration is looking to impose regulations on cryptocurrency entities that issue stablecoins. Also called fiatcoins, the price of these coins are pegged to fiat currency, such as the US dollar.
While the report is likely to focus primarily on the risks posed by stablecoins and how to impose a bank-like framework around the firms that issue them, other key issues will likely remain unresolved, such as investor protections around the trading of stablecoins, distinct from the regulation of the companies that issue them.
Check It Out: Biden Admin Wants to Regulate Stablecoin Issuers as Banks