Regulators Scramble To Address Potential Cryptocurrency Risks
Regulators Scramble To Address Potential Cryptocurrency Risks
Regulators Scramble To Address , Potential Cryptocurrency Risks.
'The New York Times' reports that federal regulators are racing to address the potential risks for consumers and financial markets when it comes to cryptocurrency.
'The New York Times' reports that federal regulators are racing to address the potential risks for consumers and financial markets when it comes to cryptocurrency.
Concerns have only grown amid the rush to profit from bringing the massive wealth held in cryptocurrency into the traditional financial systems. Concerns have only grown amid the rush to profit from bringing the massive wealth held in cryptocurrency into the traditional financial systems. Now, the Treasury Department and other agencies are moving urgently on something called stablecoin.
Now, the Treasury Department and other agencies are moving urgently on something called stablecoin.
Stablecoins serve as a bridge between cryptocurrency markets and the traditional economy.
Stablecoins serve as a bridge between cryptocurrency markets and the traditional economy.
The value of a stablecoin is bound to the United States dollar, gold or some other stable asset.
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The value of a stablecoin is bound to the United States dollar, gold or some other stable asset.
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The 'NYT' reports that the idea is to make it easier for people holding cryptocurrency to carry out transactions like purchasing goods and services.
Currently, the total value of crypto tokens in circulation is about $2 trillion, roughly equal to that of all United States dollars in circulation.
Currently, the total value of crypto tokens in circulation is about $2 trillion, roughly equal to that of all United States dollars in circulation.
Treasury Department officials also want assurances that stablecoin firms have the technical capacity to handle big surges in transactions.
Treasury Department officials also want assurances that stablecoin firms have the technical capacity to handle big surges in transactions.
Regulators are worried about whether stablecoin firms hold enough liquid assets to back up the value of their digital currency.
Regulators really start to care more when risks get greater for society.
You naturally see regulators want to come up with ways to address those risks, Jeremy D.
Allaire, CEO of Circle, via 'The New York Times'
