Federal Reserve Bank of NY Lays Out Possible Stablecoin Scenarios

Federal Reserve Bank of NY Lays Out Possible Stablecoin Scenarios
Stablecoins are growing so fast that regulators are starting to worry about their potential to undermine traditional bank lending.So this week, researchers at the Federal Reserve Bank of New York published an academic-style study in which they tried to estimate the impact on bank lending under three different regulatory frameworks for stablecoins.According to the researchers, the circulating supply of stablecoins jumped fivefold to nearly $130 billion as of September. (The amount has since grown to at least $155 billion, according to data from Skew.)”If stablecoins were to see broad adoption throughout the financial system, they could have a significant impact…