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MoonPay CEO Urges Congress to Keep State Power in Stablecoin Regulation
In a recent letter addressed to congressional leaders, Ivan Soto-Wright, the CEO of MoonPay, has expressed his concerns regarding the proposed bills on stablecoin regulation. Specifically, he is urging lawmakers to keep state regulators involved in the process.
Soto-Wright emphasized that it is essential to preserve viable pathways for permitted stablecoin issuers at the state level. He argued that the GENIUS Act would “stack the deck” against these regulators if it grants full authority over all state-level permitted stablecoin issuers to the Federal Reserve.
Source: https://coinchapter.com/moonpay-ceo-urges-congress-to-keep-state-power-in-stablecoin-regulation/
