Draft legislation in the United States House of Representatives would place a two-year ban on new algorithmic stablecoins such as TerraClassicUSD (USTC) which de-pegged from the US dollar earlier this year causing widespread crypto market contagion. The bill would criminalize the creation or issuance of new "endogenously collateralized stablecoins," according to a current draft of the legislation obtained by Bloomberg. Five speakers at a hearing for the U.S. House Committee on Financial Services voted in favor of the U.S. developing some kind of national stablecoin or on Tuesday, citing competition from China's progress on its digital currency. CBDC is an acronym for Central Bank Digital Currency, which is a digital version of a country's fiat currency. Colorado residents can now pay their taxes using cryptocurrencies, Axios reported on Sept. 20. According to the report, Governor Jared Polis made this revelation at the Denver Startup Week. Residents would now be able to pay their individual income tax, severance tax, withholding tax, and excise fuel tax in crypto. Nasdaq announced that it will launch a new group dedicated to digital assets in a bid to attract institutional clients. Tal Cohen, the company's executive president and head of North American markets, said that the new group will initially offer custody services for Bitcoin and Ethereum. You can find these stories and more at the link below:
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