“These prudential recommendations apply to ‘payment stablecoins,’ defined as those stablecoins that are designed to maintain a stable value relative to a fiat currency and, therefore, have the potential to be used as a widespread means of payment,” the report said. “These stablecoins are often, although not always, characterized by a promise or expectation that the stablecoin can be redeemed on a one-to-one basis for fiat currency.”
Related posts
-
Why Stablecoins Fail: Lessons From the Past
Stablecoins, the cryptocurrencies pegged to fiat currencies like the... -
Historical Trends Put Bitcoin At $400,000 With Shocking Timeline
Este artículo también está disponible en español. Based on historical trend patterns, a crypto analyst has... -
NYDFS 'More Eager Than Anyone' for Federal Legislation, Chief Says
NYDFS Superintendent Adrienne Harris said any federal legislation should still keep a role for state regulators....