REGULATORS are getting anxious about how mushrooming “stablecoins” – mostly US dollar-pegged crypto tokens – could sow instability in wider financial markets more directly than already hyper-volatile cryptocurrencies like bitcoin.
Western central banks and watchdogs have to date mostly stood aside from cryptocurrencies, emphasising transparency and a “caveat emptor” approach to what they see as largely speculative vehicles rather than transaction currencies per se.
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