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US congress research agency weighs in on UST crash, notes gaps in regulation -Breaking


US congress research agency examines UST crash and points out gaps in regulations

The Congressional Research Service (CRS), a governmental agency that supports the United States Congress published a report that outlines algorithmic stablecoins as well as key considerations in the TerraUSD(UST) crash.

The CRS is described in the report Described the UST crash as a “run-like” scenario and posited that there are policy issues These events are at risk. According to the CRS, a “run” situation starts when holders are doubtful of the reserves that back the dollar peg of the asset.