New Digital Currency Rules: Transparency and Security for Citizens.
This bill introduces new rules for digital currencies backed by traditional money, like the dollar. The goal is to increase security and transparency, ensuring citizens can trust that their digital money is stable and always redeemable for real currency. Companies issuing these currencies will need to regularly disclose their reserves, protecting your funds.
Key points
Companies issuing digital currencies backed by the dollar (or other currencies) will be required to regularly publish audited reports on their reserves.
These reserves must be held in secure assets, such as short-term government securities or cash, to ensure the stability of the digital currency's value.
Digital currencies backed by traditional money will not be treated as securities or commodities, meaning they won't be subject to stock market regulations but will have their own transparency rules.
Expired
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