Don’t subject stablecoins to new rules, crypto lobby tells US regulators By Reuters – Investing.com
- Date: 19-Oct-2021
- Source: Investing.com
- Sector:Financial Markets
- Country:Middle East
Don’t subject stablecoins to new rules, crypto lobby tells US regulators By Reuters – Investing.com
By Tom Wilson
LONDON (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 assets from gold to other cryptocurrencies - have ballooned during the COVID-19 pandemic.
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