FCA will ‘completely’ think about current stablecoin depegging when drafting crypto guidelines: Report
Sarah Pritchard, the chief director of markets at the UK’s Monetary Conduct Authority, or FCA, reportedly stated that the regulator will take a look at the current volatility within the crypto markets when creating guidelines for the area in 2022.
In accordance with a Friday Bloomberg report, Pritchard stated the monetary regulator will “completely” keep in mind stablecoins like TerraUSD (UST) and (USDT) depegging from the USA greenback in drafting regulatory pointers with Her Majesty’s Treasury for launch later this yr. Whereas the USDT worth solely briefly dropped to $0.97 on Could 12, UST has fallen greater than 93% since Could 9 to achieve roughly $0.06 on the time of publication.
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