The global standard-setters also cautioned that stablecoins adopted by multiple jurisdictions could potentially transmit volatility in a more abrupt manner than other cryptocurrencies.
The authorization establishes Coinbase as the pioneering crypto-centric platform to provide regulated and leveraged cryptocurrency futures in conjunction with conventional spot trading.
The chairman urged U.S. lawmakers to allocate an additional $72 million in funding, aimed at safeguarding investors from the crypto markets 'rife with noncompliance,' among other objectives.
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