Regulators are thinking about stablecoins in the wrong way ...Middle East

As we approach Thanksgiving, let us be thankful that the collapse of cryptocurrency prices over the past year, culminating in the recent demise of crypto exchange FTX, did not spill into the traditional financial system and threaten financial stability. This outcome is a result of limited connections between crypto-assets and the traditional financial system. But as the U.S. Financial Stability Oversight Council noted in a report last month, “these interconnections have been increasing and could rapidly increase further.” Unfortunately, a proposal for regulating stablecoins from the Treasury Department and bank regulatory agencies would deepen and accelerate such interconnections, ther

Hence then, the article about regulators are thinking about stablecoins in the wrong way was published today ( Saturday 12/11/2022 - 04:33 PM ) and is available on The Hill ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

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