Soon #StableCoins are under Legalisation in july

#FEDs Chairman Mr.Powell said that in July steps will be taken to legalize #StableCoins as he sees them as currency and it is mandatory to pass legal regulations of the Central Bank..!

Federal Reserve Chairman Jerome Powell argued for the need for strong central-bank oversight in stablecoin regulations being crafted by lawmakers in the House Financial Services Committee.

"We do see payment stablecoins as a form of money, and in all advanced economies, the ultimate source of credibility in money is the central bank," Powell said in testimony today at a twice-yearly hearing on monetary policy. "We believe it would be appropriate to have quite a robust federal role."

News source by CoinDesk

#DYOR #BinanceTournament