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Fiat-backed stablecoins, for instance, are popular because they are as stable as the U.S. dollar (USD) or other widely accepted currencies. However, linking crypto to a federal currency makes fiat-backed cryptos a target for governmental regulation and overall more centralized – a certain trade-off when compared with algorithmic stablecoins, the
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Crypto assets will not last long outside of a public policy framework because “finance is about trust,” warns Gary Gensler, the chair of the United States Securities and Exchange Commission.Speaking to The Financial Times, Gensler stressed the need for a regulatory framework for crypto platforms for their own survival. He
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Paolo Ardoino, Chief Technology Officer (CTO) of Bitfinex and Tether, says recent pushes for governments to adopt regulatory paths towards central bank digital currencies won’t adversely affect stablecoins like Tether.“In the long term, we believe that Tether will continue to exist alongside CBDCs,” the Tether CTO said to Cryptox, citing
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