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USA warns the risks of Tether/USDT & Circle/USDC dominate stablecoin market and wants to regulate them

Federal Reserve Governor Lael Brainard warns ...   

...   If current trends continue, the stablecoin market in the future could come to be dominated by just one or two issuers.

...   the prominence of crypto ads seen in the Super Bowl should be a signal of an increased exposure of retail investors to stablecoins.

... three key risks of stablecoins highlighted by the report - bank run risk, settlement risk, and systemic risk

Josh Gottheimer congressman (wiki) wants to regulate these and supported by

  1. Dante Disparte (linkedin, twitter), Circle’s Chief Strategy Officer and Head of Global Policy
  2. Kristin Smith (linkedin, twitter) , Executive Director of the Blockchain Association
  3. Teana Baker Taylor (linkedin, twitter) , Chief Policy Officer at the Digital Chamber of Commerce


source:  https://www.forbes.com/sites/jasonbrett/2022/02/19/will-circle-and-tether-reign-supreme-federal-reserve-predicts-stablecoin-issuer-duopoly/?sh=52bcb6225b51

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Comments

  1. JMFebruary 20, 2022 at 2:30 PM

    another sign real world politic (USDC) is winning over virtual entrepreneur (USDT)

    ReplyDelete

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