Stablecoins under scrutiny: USDT stands by ‘commercial paper’ tether
Cointelegraph
Published Jul 02, 2021 01:31PM ET
Updated Jul 04, 2021 04:00PM ET
The stablecoin market has been growing exponentially, and last week, Eric Rosengren — president of the Federal Reserve Bank of Boston — appeared to raise a cautionary flag.
“There are many reasons to think that stablecoins — at least, many of the stablecoins — are not actually particularly stable,” he said in remarks before the Official Monetary and Financial Institutions Forum, voicing concerns that “a future [financial] crisis could easily be triggered as these become a more important sector of the financial market, unless we start regulating them.”
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Written By: Cointelegraph
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