Some of the biggest banking companies in the US are reportedly exploring a team-up to launch a crypto stablecoin. Companies owned by JPMorgan, Bank of America, Citigroup and Wells Fargo have discussed the possibility of jointly issuing a stablecoin The Wall Street Journal reported on May 22,

The passage of a U.S. stablecoin bill could be one of the most important regulatory developments in the history of crypto, the report said.

The Senate voted 66-32 Monday evening to advance first-of-its-kind legislation to regulate “stablecoins,” a kind of cryptocurrency. Democrats had initially voted to block the bill earlier this month amid concerns over President Donald Trump’s cryptocurrency deals.

Michigan and Washington are advancing new cryptocurrency regulations, aiming to boost innovation, protect investors, and clarify digital asset rules.

Developers to benefit from a Blockchain Bill that seeks to differentiate money transmitters in push for sound crypto regulation