U.S. Sen. Pat Toomey introduces Stablecoin TRUST Act

U.S. Senators Pat Toomey introduces a bill to legitimize the use of stablecoins in payment systems.

The Stablecoin TRUST Act—a backronym for Transparency of Reserves and Uniform Safe Transactions—would establish a federal regulatory framework for “payment stablecoins” and is designed to guide Congress towards a path of “sensible regulation of cryptocurrencies.”