Stablecoins could threaten US financial stability – lawmaker
Stablecoins could pose a significant threat to the financial system of the United States, Chairwoman of the House Committee on Financial Services Maxine Waters (pictured) said on Tuesday.
The use of stablecoins in the US mostly comes down to the facilitation of trading, borrowing, or lending of other cryptocurrencies, which can lead to major misuses, Waters said during a meeting dubbed Digital Assets and the Future of Finance.
Stablecoins are a subcategory of cryptos that are pegged to a reserve asset, most commonly a fiat currency like the US dollar.
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