The US House Financial Services Committee published a draft version of a potential landmark stablecoin bill, with proposals including a moratorium on stablecoins backed by other crypto assets and a request to study a central bank digital currency (CBDC). The bill, available on the committee's hearing page, represents the first major piece of crypto legislation to move in 2023, and follows two key incidents over the past year including stablecoins: the blowup of terraUSD (UST), which was backed by a token called LUNA, and the second-largest one, USD coin (USDC), temporarily becoming unmoored from $1.
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