How do the UK and US seek to regulate stablecoins after the UST collapse?

How do the UK and US seek to regulate stablecoins after the UST collapse? (by bit4you)

The US and stablecoins

The authors referenced the Financial Markets Working Group under the United States President’s report on the dangers connected with stablecoins. Also, they recommended putting token holders on par with banks. In addition to meeting capital and liquidity criteria, the entities appear to be transparent at the federal level.

Stablecoins in the UK

The Treasury Department of the United Kingdom has opted to continue regulating stablecoin as legal money. While the cryptocurrency community considers it positive, it comes as a surprise given the recent demise of one of the most popular algorithmic stablecoins, Terra (UST).

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bit4you is an european crypto exchange platform. We are facilitating the transition between crypto currencies and traditional currencies such as euro.