Sarah Pritchard, the executive director of markets at the United Kingdom’s Financial Conduct Authority, or FCA, reportedly said the regulator will look at the recent volatility in the crypto markets when creating rules for the space in 2022.

Pritchard was the subject of a Bloomberg Friday report. the financial regulator will “absolutely” take into account stablecoins like TerraUSD (UST) and (USDTDepegging from U.S. dollars was used in the drafting of regulatory guidelines by Her Majesty’s Treasury. They will be published later this calendar year. While the USDT price only briefly dropped to $0.97 on May 12, UST’s has fallen more than 93% since May 9 to reach roughly $0.06 at the time of publication.