Optimism fading? Regulatory discussion on stablecoins postponed until fall
2022.08.17 02:46
Optimism fading? Regulatory discussion on stablecoins postponed until fall
Among a rich range of anxieties both for the crypto industry and the global economy at large, the summer of 2022 will be remembered as the time when stablecoins proved themselves to be not so stable and thus came into the focus of regulators’ attention.
The shock of the TerraUSD (UST) depegging in May opened a season of heated-up discussions on stablecoins around the world. The top financial officials from the Group of Seven largest advanced industrial economies had to send their private jets to the 40,000-populated German town of Koenigswinter to push the international body of the Financial Stability Board into speeding up the crypto regulation process. The Chinese government signaled its desire for even tighter regulations on cryptocurrencies and stablecoins. Japan played proactively limited stablecoin issuance to banks and trust companies.
