TCH: Paper outlines legal authority for banks to engage in stablecoins
- TCH Association is a nonpartisan advocacy organization that represents the interests of its member banks
- Released a research paper that analyzes the legal authority and policy considerations for banks’ engagement
- The Paper provides information about the legal authority of insured depository institutions to issue stablecoins
- National banks have always been permitted to develop the innovative deposit and payment mechanisms
- Doing so will better protect consumers and the economy, as federal regulated banks are subject to a full range of capital
- Regulators have the clear legal authority to permit insured banks to issue deposits in digital form
