<ul><li>Sonic Labs has abandoned its plans to launch an algorithmic stablecoin due to increasing regulatory scrutiny.</li><li>The decision comes in response to the release of the full draft of the STABLE Act, which proposes stricter oversight and a two-year moratorium on algorithmic stablecoins.</li><li>Co-founder Andre Cronje stated that the changing regulatory landscape made it unfeasible to proceed with a USD-based algorithmic stablecoin.</li><li>The U.S. government is actively working on stablecoin regulations, with the GENIUS Act and STABLE Act being considered, and industry giants lobbying to shape the regulatory framework.</li></ul>

Sonic Labs Scraps Algorithmic Stablecoin Plans Amid Regulatory Pressure

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