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American University Law Professor: Stablecoins Need Federal Regulation to Prevent Financial Risks

Hilary Allen, a law professor at American University, pointed out that stablecoins pose a potential threat to the banking system and the public, arguing for federal regulation. She warned that stablecoins could lead to bank instability and ultimately require emergency government assistance. The remarks come as Congress steps up regulation of stablecoins, despite the fact that stablecoins are being passed in a presidential election year.

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2024-05-09 22:05:38
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