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The Payments Newsletter including Digital Assets & Blockchain, May/June 2023

The Payments Newsletter including Digital Assets & Blockchain, May/June 2023
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Retiring U.S. Sen. Pat Toomey Introduces Stablecoin TRUST Act

As one of his last acts in office, the Pennsylvania Republican introduces a bill to legitimize the use of stablecoins in payment systems. ....

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A Dollar Stablecoin Might Be Created by the U.S. Treasury Soon

How this would impact the existing stablecoin market remains to be seen. ....

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Law Decoded: Crypto risks, imaginary and real, and creative ways of addressing them, April 4–11

The Treasury admits there’s not much crypto-aided sanctions evasion going on, stablecoins attract regulatory attention, and a fourth futures-based BTC ETF secures approval. ....

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Toomey unveils stablecoin bill granting OCC authority for payments charter

The legislation would grant stablecoin issuers a high degree of flexibility, allowing firms to be regulated state by state, as a bank, or as a “limited national limited payment stablecoin issuer” supervised by the Office of the Comptroller of the Currency. ....

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