🚀🔒Big news, crypto fam! Senators Lummis and Gillibrand are pushing for a safer crypto space with their new Payment Stablecoin Act.

• The bill aims to regulate stablecoin issuers, ensuring 1:1 reserves and banning unbacked, algorithmic stablecoins.

• It also sets up guardrails to prevent illicit use of stablecoins.

• Plus, it allows state non-depository trust companies to issue payment stablecoins up to $10 billion.

But not everyone's on board. Senator Warren wants tighter controls for stablecoins, fearing they could be exploited by bad actors.

What's your take? Is this a step forward for crypto or just more red tape? Let's chat below! 👇 #CryptoNews #StablecoinAct