Federal regulators want to slap bank-like rules on stablecoins
CNN
Regulators have long been circling cryptocurrencies. Now they have a new target: stablecoins.
A Monday report from the President's Working Group on Financial Markets, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency urged Congress to slap bank-like rules on the assets.
The selling point of stablecoins is in the name: their value is meant to fluctuate less than other digital currencies because they are pegged to a real-world asset — in many cases, the US dollar.
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