The Biden Administration will be looking into more stringent regulations for stablecoins, The Wall Street Journal (WSJ) writes.
Stablecoins are a digital currency form which try to combine the stability of national currencies with the ability to trade online quickly.
Stablecoins are backed by safe assets like Treasuries, and should theoretically be linked to the dollar quite closely, able to be redeemed for dollars. On the other hand, cryptocurrencies like bitcoin can fluctuate wildly because they are not backed by fiat.