Home Business Stablecoins underneath scrutiny: USDT stands by ‘business paper’ tether By Cointelegraph

Stablecoins underneath scrutiny: USDT stands by ‘business paper’ tether By Cointelegraph

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Stablecoins underneath scrutiny: USDT stands by ‘business paper’ tether

The stablecoin market has been rising exponentially, and final week, Eric Rosengren — president of the Federal Reserve Financial institution of Boston — appeared to lift a cautionary flag.

“There are a lot of causes to suppose that stablecoins — no less than, most of the stablecoins — usually are not really significantly secure,” he mentioned in remarks earlier than the Official Financial and Monetary Establishments Discussion board, voicing considerations that “a future [financial] disaster may simply be triggered as these grow to be a extra essential sector of the monetary market, until we begin regulating them.”