Circle tells congress its coin is '100%' backed by cash and short-term US debt as lawmakers scrutinize stablecoins

cryptocurrency 1 month ago
Digital payments company Circle told a House committee on Wednesday its USDC stablecoin is fully backed by the US dollar and short-term government debt, addressing a question about the company's recent change in the makeup of the digital coin's reserves. Stablecoins are a type of cryptocurrency …
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