Stablecoins: Congress Still Grappling With Basics

[tradelikepro]

During questioning, Lynch pushed Bowman on whether her comments applied to cryptocurrencies or stablecoins, highlighting a persistent gap in lawmakers’ understanding.
Bowman reiterated that stablecoins are designed to maintain value—unlike volatile cryptocurrencies—though past failures like Terra still linger in policymakers’ minds.

Her stance: the Fed is doing what Congress directed — not pushing crypto, but regulating digital asset activity under the new law.

[Nahid Hossen]

Congress struggling with stablecoin fundamentals shows how early we still are.