The search for the ideal 'stand-in' for the US dollar continues. The crash of UST, however, implies that algo stables are 'inherently weak.'
According to the FCA's executive director for markets, market instability in stablecoins must be considered.
According to the bank, the stock market downturn has had a significantly higher impact on household net worth in the United States.
Finance ministers, citing recent market instability, want to see financial stability and money-laundering regulations implemented as quickly as possible.
According to data, the put/call ratio for bitcoin options hit yearly highs on Thursday.
Once regulatory uncertainty is resolved, Commonwealth Bank of Australia CEO Matt Comyn maintains his bank will move on with the second pilot of crypto services via its app.
Hayes pleaded guilty in February to one count of violating the Bank Secrecy Act (BSA), and he faces a maximum sentence of 12 months in jail.
'It was evident to me, it was clear to many that I knew it was a horrible idea,' said Paolo Ardoino, CTO of Tether and Bitfinex.
The chaos on the crypto market following the Terra crash heightened the ministers' feeling of urgency to finish the regulating process.
In court records, the SEC declared, 'After reasonable inquiry, the material known and currently accessible is not adequate to enable the Commission to admit or refuse this motion.'