cann
2021-09-13
That is quite scary, i am still alien to crytocurency
The US may crack down on 'stable' cryptocurrencies
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Officials are reportedly concerned the digital money is largely unregulated and could ultimately destabilize the financial system, not protect it.</p>\n<p>A presidential Working Group on Financial Markets is believed to be most concerned about Tether. The cryptocurrency's operators said they stabilize their funds by holding large amounts of corporate debt. That could be vulnerable to \"chaotic investor runs\" if cryptocurrency values tank, according to <i>Bloomberg</i>.</p>\n<p>While a firm decision isn't expected until December, when the Working Group is believed to be issuing recommendations, there's reportedly a \"consensus\" in favor of an Oversight Council review. If that happens, the council could label stablecoins as threats that warrant strict regulation. Numerous cryptocurrencies could be forced to change their business models or even shut down.</p>\n<p>As it stands, stablecoins are at risk from government competition. 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