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The Divide over Stablecoin Regulation: State vs. Federal Oversight

Leo Schwartz delivers insider insights on policy and regulation in Proof of State, the Wednesday edition of Fortune Crypto. Last week's showdown at the House Financial Services Committee resulted in the passing of two bills, one focused on crypto-market-structure oversight and the other on stablecoins, with a modicum of bipartisan support. While the passing of the market structure legislation is a significant step forward in advancing the conversation, the stablecoin bill received less support and is seen as a failure. The divide around crypto regulation is now being formed around questions of state versus federal oversight, rather than along partisan lines.

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