Topic: Are stablecoins safe? - page 6. (Read 715 times)
If your country has cryptocurrency legislation, then you can safely store Tether (USDT) and USD Coin (USDC) bought on the exchange, because these are the most common stablecoins. But the issuer can block your coins. Most of my savings are in DAI, because for now it is a reliable decentralized stablecoin, but I will not give you guarantees that this will not change in the future.
Hello Crypto Fam.
So, the FSB has released a recommendation on stablecoin regulation. They are doubting the notion that stablecoins are "stable," arguing that issuers lack the necessary tools to keep their stablecoin peg at all times, implying that no stablecoin currently meets their recommendations.
This is what they said about it:
“Most existing stablecoin issuers promise (implicitly or explicitly) to maintain a stable value, typically relative to a single fiat currency. However, many of these existing stablecoins are issued by unregistered and unlicensed entities and do not have credible mechanisms to support their promise of price stability.”
What do you guys think about this? Would you recommend the use of stablecoins or they just aren't worth the risk?
Original source of the story:
https://tokenist.com/fsb-says-no-stablecoin-currently-passes-its-recommendations/
So, the FSB has released a recommendation on stablecoin regulation. They are doubting the notion that stablecoins are "stable," arguing that issuers lack the necessary tools to keep their stablecoin peg at all times, implying that no stablecoin currently meets their recommendations.
This is what they said about it:
“Most existing stablecoin issuers promise (implicitly or explicitly) to maintain a stable value, typically relative to a single fiat currency. However, many of these existing stablecoins are issued by unregistered and unlicensed entities and do not have credible mechanisms to support their promise of price stability.”
What do you guys think about this? Would you recommend the use of stablecoins or they just aren't worth the risk?
Original source of the story:
https://tokenist.com/fsb-says-no-stablecoin-currently-passes-its-recommendations/
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