US Crypto Regulations Target CBDCs and Non-Compliant Stablecoins

Recent US crypto regulatory initiatives focus on opposing a central bank digital currency (CBDC), restricting banks from embracing crypto, and addressing non-compliant stablecoins like Tether. The stablecoin bill, which could threaten Tether's dominance, has the highest chance of being passed before the presidential election in November. Meanwhile, the possibility of a CBDC issuance is diminishing after the House passed a bill banning the Federal Reserve from doing so. Additionally, a resolution overturning a rule that hindered banks from custodying crypto assets was vetoed by President Biden.