Senators Grapple With Stablecoin Bankruptcy
Also, SEC looks to give DeFi more runway; MSRB does about-face on bond reporting rule; financial firms demand agencies address data security
The bipartisan group of senators hammering out the stablecoin legislation has gone back and forth in recent weeks on a particularly knotty problem: What happens if a company issuing dollar-denominated digital tokens goes belly up? Solving it hasn’t been easy – and some last-minute opposition is forming.
The debate stems from a fundamental tension. Stable…