TD Cowen, a US investment bank, predicts that the stablecoin regulation bill framework proposed by Tennessee Senator Bill Hagerty is likely to shape stablecoin regulation in the US next year. The framework, released recently, includes key provisions such as: - Dollar-for-dollar reserve backing - State jurisdiction for issuers above $10 billion rather than federal regulators According to TD Cowen, the likelihood of this framework's implementation is higher if Donald Trump, a close ally of Senator Hagerty, is elected. The bank emphasizes the importance of bipartisan consensus on a stablecoin oversight agency. The development of a stablecoin regulation framework is a significant step towards addressing concerns related to the stability and oversight of stablecoins, which play a growing role in the cryptocurrency ecosystem.
