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May 16, 2022 11:20 pm
Original Link: https://news.slashdot.org/story/22/05/16/218201/stablecoins-not-ready-for-consumer-payments-us-watchdog-says?utm_source=rss1.0mainlinkanon&utm_medium=
Stablecoins Not Ready for Consumer Payments, US Watchdog Says
The recent collapse of a popular stablecoin shows that the tokens aren't ready to be used by consumers to make payments, according to a key US watchdog. From a report: "People wonder: Is it going to be one day used for consumer payments?" Rohit Chopra, director of the Consumer Financial Protection Bureau, said in a Bloomberg TV interview Monday. "Many are thinking it's not ready yet." [...] Chopra said there may be "movement" on crypto regulation this year. Regulators are studying a range of issues, including rules for stablecoins, following an executive order from President Joe Biden. "A lot of people thought that a stablecoin was just going to be as good as a dollar," Chopra said. "But they're learning that it's not."Read more of this story at Slashdot.
Original Link: https://news.slashdot.org/story/22/05/16/218201/stablecoins-not-ready-for-consumer-payments-us-watchdog-says?utm_source=rss1.0mainlinkanon&utm_medium=
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