
NYDFS Says ‘Dual Banking System’ Should Oversee Stablecoins
According to New York’s financial regulator, the best system for regulating stablecoins already exists. Testifying before the House Financial Services Committee Wednesday (April 19), New York Department of Financial Services Superintendent (NYDFS) Adrianne A. Harris said federal stablecoin legislation should build on the existing “dual banking” system. “The dual banking system takes advantage of the […]