A Tricky Tether Problem is Weighing on the Stabelcoin Legislation

Also, ex-CFPB general counsel draws Republican ire at House hearing

As Congress moves quickly to lay out a regulatory regime for stablecoins, one of the biggest crypto industry players has emerged as a particularly tricky obstacle: Tether. The problem? It’s not based in America, and lawmakers are divided on how foreign firms should be treated by the legislation.

The El Salvador-based company issues the world’s most popul…