The regulation of stablecoins in the United States

White & Case's Douglas Landy, James Kong, Stephen Hogan-Mitchell and Ben Elron recently contributed a chapter to Global Legal Insights ("GLI's") Blockchain & Cryptocurrency Regulation 2023 publication. In the chapter, the authors discuss the history and characteristics of certain representative stablecoins, provide a high-level overview of the developing legislative and regulatory environment, discuss the implications of a regulatory framework for stablecoin issuers, and argue that bank-issued stablecoins should be regulated as a banking product subject solely to regulation by the prudential bank regulators.

This publication is provided for your convenience and does not constitute legal advice.