Biden administrator weighing bank-like regulation for stablecoin issuers By Cointelegraph

The Biden administration is reportedly considering a new legal framework for stablecoin issuers that would put them in the same category as banks, raising questions about the future of crypto regulation in the country.

Quoting people familiar with the matter, the Wall Street Journal reported On Friday, the administration seeks to convince Congress to create a new “special purpose charter” for stablecoin issuers and other companies that fall into the same category. While it’s not entirely clear what the legislation will look like, it should be tailored specifically for these types of business models.

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