“These prudential recommendations apply to ‘payment stablecoins,’ defined as those stablecoins that are designed to maintain a stable value relative to a fiat currency and, therefore, have the potential to be used as a widespread means of payment,” the report said. “These stablecoins are often, although not always, characterized by a promise or expectation that the stablecoin can be redeemed on a one-to-one basis for fiat currency.”
Put Stablecoins Under Federal Supervision – Or We Will
