BitCoinsXE: Ultimate Guide to Cryptocurrencies, Wallets, Markets, and Live Exchange Rates. logo BitCoinsXE: Ultimate Guide to Cryptocurrencies, Wallets, Markets, and Live Exchange Rates. logo
Seeking Alpha 2021-11-07 22:35:00

President's Working Group urges Congress to regulate stablecoins

The President's Working Group on Financial Markets, along with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency wants Congress to enact legislation to ensure that payment stablecoins and payment stablecoin arrangements are subject to a regulatory framework, the report says. Stablecoins, a digital fiat currency, such as Tether (USDT-USD) and USDC (USDC-USD) have exploded 500% to exceed a $127B market cap over the past year, according to the report. "Failure to act risks growth of payment stablecoins without adequate protection for users, the financial system, and the broader economy." Just like traditional banks, payment stablecoins face credit risk, liquidity risk, operational risk and settlement risk. "When not managed comprehensively, these risks can make payment systems less available and less reliable for users, and they can create financial shocks or operate as a channel through which financial shocks spread." In October, Fitch Ratings warned that

阅读免责声明 : 此处提供的所有内容我们的网站,超链接网站,相关应用程序,论坛,博客,社交媒体帐户和其他平台(“网站”)仅供您提供一般信息,从第三方采购。 我们不对与我们的内容有任何形式的保证,包括但不限于准确性和更新性。 我们提供的内容中没有任何内容构成财务建议,法律建议或任何其他形式的建议,以满足您对任何目的的特定依赖。 任何使用或依赖我们的内容完全由您自行承担风险和自由裁量权。 在依赖它们之前,您应该进行自己的研究,审查,分析和验证我们的内容。 交易是一项高风险的活动,可能导致重大损失,因此请在做出任何决定之前咨询您的财务顾问。 我们网站上的任何内容均不构成招揽或要约