A big worry is that the company hasn't said what it will do with the money from selling stablecoins.
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According to reports, 'endogenously collateralized stablecoins,' which rely on the value of an attached cryptocurrency from the same inventor to maintain a stable price, will be covered by the definition of the bill.110
On Monday, Senator Andrew Bragg unveiled a draft bill that would control cryptocurrency exchanges, stablecoins, and the virtual currency known as the yuan.70
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