
FILE PHOTO: Representations of cryptocurrencies Bitcoin, Ethereum and DogeCoin are placed on PC motherboard in this illustration taken, June 29, 2021. REUTERS/Dado Ruvic/File Photo
LONDON (Reuters) - A global central bank test lab run out of London is designing a 'stablecoin' monitoring system aimed at giving authorities a clearer picture on how they work and how to regulate them in future.
Stablecoins are a type of cryptocurrency which aim to maintain a 1:1 peg with a fiat currency such as the dollar. The collapse last year of a widely-used stablecoin pair, Luna and TerraUSD, sparked widespread turmoil in crypto markets.
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