I mention new legislation to underline that the specific authority to regulate non-bank stablecoin issuers already exists under state law, specifically. And wh

I mention new legislation to underline that the specific authority to regulate non-bank stablecoin issuers already exists under state law, specifically. And while the article doesn't call for new legislation, some people are advocating for new federal legislation to give federal regulators the authority to regulate non-bank stablecoin issuers, which is an authority that they currently do not have, generally speaking. I certainly wouldn't say that "nobody" is calling for new legislation. For example: https://www.coindesk.com/new-crypto-bill-in-us-congress-is-the-most-comprehensive-yet https://www.coindesk.com/new-crypto-bill-in-us-congress-is-t... OP commented that the OCC would need to change its rules in order to allow more entities to obtain bank charters, and the focus of the article seemed to be on national bank regulators (without explicitly drawing a distinction). Rather than focusing at the federal level, the focus should be placed on standardizing state regulation and educating state regulators as to the powers and obligations they already have.