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The stablecoin scourge: Regulatory hesitancy may hinder adoption
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The stablecoin market has been growing exponentially — from only $21.5 billion in mid-October of last year to $130 billion at the start of November; a six-fold increase — so it was only reasonable to expect that the United States government would have to come to grips with these digital assets that are designed to maintain a stable value relative to a fiat currency like the U.S. dollar (USD) or a commodity like gold.
The Treasury Department revealed its latest thinking on the subject this week with the much-anticipated President’s Working Group on Financial Markets’ (PWG’s) report on Stablecoins. That report recommended that Congress act promptly to enact legislation to ensure that payment stablecoin issuers be regulated more like U.S.
Read more on cointelegraph.comAbout this in other media
A US Fed Governor Argues That Stablecoins Scaling Fast is Not a Concern cryptonews.com /2 years ago
Bitcoin may be looking at continued ‘healthy’ correction over the next few days ambcrypto.com /2 years ago
Why a Fed official says stablecoins can match the stability of fiat currencies fnlondon.com /2 years ago
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