US Financial Stability Oversight Council identifies stablecoins and cryptos as threats to financial system -Breaking
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An annual report PubliziertThe United States Financial Stability Oversight Council (or FSOC) expressed concern Friday over the adoption Stablecoins, and other digital assets.
Concerning stablecoins the FSOC stated that factors like illiquidity and lack of adequate safeguards as well as opacity in redemption rights, cyber attacks, or lack thereof, could undermine consumer confidence. The report stated that a run on stablecoins in strained markets could have the potential of amplifying a shock to both the economy and financial system.
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