Congress May Consider Libra as Security

It is for this purpose, a bill to regulate stablecoins in accordance with the Securities Act was filed to the United States House of Representatives on November 21.

The bill was prepared by two members of the House of Representatives - Sylvia Garcia and Lance Gooden. It will be considered at the first session of the 116th US Congress. With this bill, the authorities propose to rank Libra and similar projects as securities and regulate them accordingly.

The United States’ interest in stablecoins is growing by leaps and bounds in 2019. Back in March, speaking at the SXSW conference in Austin, Senior Advisor for Digital Assets, Valerie Szczepanik mentioned that some of them have signs of securities.

She divided all stablecoins into three categories:

• Pegged by fiat reserve.

• Related to real assets (precious metals, oil, real estate).

• Having neither an asset nor a reserve that could control the pricing mechanism and keep the value within a certain framework.

The third category stablecoins with a centrally controlled price like Libra will pull SEC`s close attention. We will follow developments and inform you.

Neironix analytic agency — the latest cryptocurrency news!