Start / Patrick Boyle On Finance / Squashing tether the coming regulation in stablecoins

Patrick Boyle On Finance

Squashing Tether - The Coming Regulation in Stablecoins

13 min • 6 november 2021

Send us a textFederal regulators requested more power from Congress to regulate stablecoins, a fast-growing type of cryptocurrency that they warn could result in bank runs and consumer abuse unless lawmakers act quickly, according to a report issued Monday by the Treasury Department.The report, which was undertaken by the President’s Working Group on Financial Markets, called on Congress to pass a law that makes issuers of stablecoins subject to requirements like those of traditional banks an...

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