Jeremy Allaire

Circle CEO joins appeal against US Treasury self-hosted crypto wallet ban

Jeremy Allaire, CEO and co-founder of peer-to-peer payments firm Circle, sent a letter to senior staff of the United States Department of the Treasury on Dec. 9, appealing for regulators to collaborate with the industry in adopting crypto regulations. Allaire warned U.S. regulators that some of its proposed rules pose a direct risk to the …

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New Draft U.S. Law Will Make It Illegal To Issue Stablecoins Without Federal Reserve Approval

<div class=”featured_image_container”> </div> <strong>Three U.S. lawmakers have introduced a bill that will force private stablecoin issuers to obtain a banking charter (or license) and approval from the Federal Reserve before they can issue a stablecoin.</strong> Instigated by Rep. Rashida Tlaib, with support from Reps. Jesús García and Stephen Lynch – all of them Democrats – …

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US Banks Can Now Hold Reserves for Stablecoin Issuers, Says Federal Banking Regulator

The U.S. Office of the Comptroller of the Currency (OCC) on Monday published a letter clarifying that national banks and federal savings associations can now hold reserves for stablecoin issuers in the country. According to the OCC’s interpretive letter, reserve accounts can either be funded through deposits from stablecoin issuers or deposits from individual stablecoin …

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