Gay finance – Gay Lenol http://gaylenol.com/ Sat, 18 Sep 2021 10:22:07 +0000 en-US hourly 1 https://wordpress.org/?v=5.8 https://gaylenol.com/wp-content/uploads/2021/05/cropped-icon-32x32.png Gay finance – Gay Lenol http://gaylenol.com/ 32 32 Why Washington Is Worried About Stablecoins https://gaylenol.com/why-washington-is-worried-about-stablecoins/ https://gaylenol.com/why-washington-is-worried-about-stablecoins/#respond Fri, 17 Sep 2021 20:06:12 +0000 https://gaylenol.com/why-washington-is-worried-about-stablecoins/

Stablecoins might be the most ironically named innovation of the cryptocurrency age, at least in the eyes of many regulators and policymakers in Washington.

These digital currencies promise to maintain their value, which is usually tied to a government currency like the dollar or the euro, by relying on stable financial support like bank reserves and short-term debt. They are exploding in popularity as they are a convenient and inexpensive way to transact in cryptocurrency. Stablecoins have grown from a virtual non-existence to a market of over $ 120 billion in just a few years, with most of that growth in the past 12 months.

But many are built more as slightly risky investments than the dollar and penny cash they claim to be. And so far, they’re slipping through regulatory loopholes.

The rush to oversee stablecoins – and industry lobbying to avoid regulation or side with profits – could be the most important conversation in Washington financial circles this year. How officials deal with the thorny questions about a relatively new phenomenon will set the precedent for a technology that is likely to endure and develop, effectively writing the first draft of a rulebook that will govern the future of the industry. money.