The Urgent Need for Regulatory Clarity on Stablecoins

The Urgent Need for Regulatory Clarity on Stablecoins
Recently, leaders from six cryptocurrency companies testified before Congress about the opportunity and promise of digital currencies and also answered lawmakers’ questions about the risks that come with their use. Stablecoins were at the center of much of the discussion as these fast-growing crypto assets are at the center of a debate around the regulation of cryptocurrency.Tether – the largest stablecoin issuer – agreeing in October to pay the Commodity Futures Trading Commission $41 million for misrepresenting the dollar reserves behind its digital tokens provides glaring evidence that regulators and policymakers need to come together and quickly align on how…