Panic-Driven Crypto & Stablecoin Regulation Would Create Further Instability
- Date: 20-May-2022
- Source: Forbes
- Sector:Financial Markets
- Country:Middle East
Panic-Driven Crypto & Stablecoin Regulation Would Create Further Instability
In reaction to the volatile events of the last few weeks, both the stock and cryptocurrency markets have taken a deep dive. While this downturn is distressing to many, it has emboldened progressive politicians and activists whose motto is “never let a crisis go to waste.”
Yet there are some important facts to keep in mind before we rush into panic-driven regulation. One is that TerraUSD appears to be an outlier among stablecoins — cryptocurrencies pegged to hard assets such as the dollar – and nearly all of the leading stablecoins have so far held their value.