US lawmakers’ proposed ban on algorithmic stablecoins draws industry backlash

A recent legislative bill introduced by US Senators Cynthia Lummis and Kirsten Gillibrand has drawn the crypto industry’s ire due to a proposed ban on algorithmic stablecoins. Former Blockchain Association member Jake Chervinsky called the Lummis-Gillibrand Payment Stablecoin Act “deeply flawed” on April 17. He warned that the …

This post was published at CryptoSlate