您现在的位置是:British government looking to limit risk of stablecoins >>正文
British government looking to limit risk of stablecoins
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛8人已围观
简介The British government wants to tackle the risks of, among other things, stablecoins. That’s n...
![](https://coinjournal.net/wp-content/uploads/2023/03/1654075053869-47770d63-48af-42db-8f71-2e08f6ec84b5.jpg)
The British government wants to tackle the risks of, among other things, stablecoins. That’s not surprising, given the chaos that Terra’s stablecoin (UST) has caused. A document issued by the UK Treasury Department states that existing ‘regulatory regimes’ can be applied to unregulated digital payment instruments.
Managing risks
In the new document, released Tuesday, the ministry proposed using existing regulatory regimes to mitigate the risks posed by stablecoins and other crypto. The document started on a positive note. Namely, by reiterating the UK government’s commitment to crypto innovation. In addition, it was also highlighted that stablecoins must be recognized by law.
While the collapse of UST probably played a large part in the creation of this document, it is not mentioned anywhere. Terra and the accompanying LUNA are also omitted from this plan. The ministry does speak in the document to “manage the risks associated with the bankruptcy of a systemically important stablecoin firm”. This is very similar to UST.
“The events in the cryptoasset markets have further highlighted the need for appropriate regulation to help mitigate risks to consumers, market integrity and financial stability.”
What are these so-called ‘regulatory regimes’?
These rules are known in the United Kingdom as Special Administration Regimes (SARs). These SARs would provide the Bank of England with regulatory oversight over bodies issuing stablecoins. In that case, they may check whether the system of these stablecoins is watertight. These SARs would also ensure that companies always work in the best interest of their customers (and the rest of the population).
The document outlines two different SARs that may apply to stablecoins, but a final decision will not be made until later. The file asks for feedback, with a deadline of 2 August. There is already a preference: the Infrastructure Special Administration Regime (FMI SAR). It would be appropriate to address the risks arising from the bankruptcy of this type of company.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/74168.html
相关文章
Best BEP 20 tokens that can make you millions
British government looking to limit risk of stablecoinsThe Binance Smart Chain is one of the biggest blockchain ecosystems in the world. It has provided a...
阅读更多
PolkaBridge token skyrockets: best places to buy PolkaBridge
British government looking to limit risk of stablecoinsNomad Exiles is launching an IDO on PolkaBridge on March 26, and, what’s more, the coin was re...
阅读更多
BNB recovery looks sustainable as the price aims for $326 resistance again
British government looking to limit risk of stablecoinsBinance coin has started a bullish reversal at the $277 support.Cryptocurrencies are mixed in an unc...
阅读更多
热门文章
- Blockchain For Europe Welcomes Crypto Exchange Binance
- Certific and Veriff partner to improve medical diagnostics
- Tether To Replace Ethereum As Number Two Highest Market Cap
- Voyager Digital announces quarterly revenue of $100
- The Federal Reserve Bank Considering CBDC to Modernise the Payment Sector
- XRP is up by more than 5% today
最新文章
XBO partners with Chainalysis for top
Solana ecosystem tokens worth keeping an eye on: LINK, WAVES, GRT and AUDIO
Bored Ape Yacht Club raises $450 million, one week after launching ApeCoin
Acala community okays burning billions of erroneously minted aUSD stablecoin
Decentralized Social (DESO) shows bullish signs even as the rest of the market slows
Harmony (ONE) reports an extensive rebound