Bloomberg: The US stablecoin regulatory bill will impose a two-year ban on those similar to UST

According to ChainCatcher, Bloomberg reports that the latest version of the stablecoin regulation bill being drafted by the U.S. House of Representatives shows that issuing or creating new "endogenous collateral stablecoins" is illegal. This definition applies to stablecoins that are convertible, redeemable, or repurchasable at a fixed amount of monetary value and rely solely on the value of another digital asset from the same creator to maintain their fixed price.

In addition, the stablecoin regulation bill will impose a two-year ban on stablecoins similar to TerraUSD (UST). The bill will also allow banks and non-bank institutions to issue stablecoins and will preserve the role of state regulators. According to informed sources, the expert group may vote on the bill as early as next week. (Bloomberg)