Don’t subject stablecoins to new rules, crypto lobby tells U.S. regulators

Don't subject stablecoins to new rules, crypto lobby tells U.S. regulators

LONDON, Oct 18 (Reuters) – Asset-backed stablecoins do not pose a systemic risk to the U.S. financial system and should not face a new set of rules, a major cryptocurrency lobby group told U.S. regulators on Monday, as tighter oversight of the fast-growing technology looms.Stablecoins – digital tokens usually backed by reserves of dollars or … Read more

Could Stablecoins Topple the Crypto Industry?

Could Stablecoins Topple the Crypto Industry?

Image source: Getty Images It could be said that Tether (USDT) has been crypto’s dirty secret for several years. Like other stablecoins, it avoids the volatility of ordinary cryptocurrencies by pegging its value to another commodity — in this case, the U.S. dollar. Crypto traders use stablecoins to move in and out of crypto positions … Read more

IMF warns of the danger to the financial system from ‘disappearing’ crypto coins and the instability of stablecoins | Currency News | Financial and Business News

Bitcoin balloon

Bitcoin balloon Andriy Onufriyenko The IMF warned countries about the risks that came with the growing crypto space in a report Tuesday. More than 16,000 tokens have been listed on exchanges, but only around 9,000 exist today, the report said. The fund said stablecoins were vulnerable to volatility and investor runs despite being pegged to … Read more