US Treasury Concerned About Stablecoins, Readying Regulation

·1 min read

BeInCrypto –

The United States Treasury considers stablecoins to be a significant concern and is readying regulation, according to a report from Bloomberg.

The United States government appears set to impose restrictions on the crypto market, as reports indicate that it will deem stablecoins a peril. Bloomberg reported on Sept 16 that U.S. Treasury officials have marked tether and other stablecoins as a significant concern.

Stablecoins a concern

Stablecoins have been noted as a threat not just by the U.S. but also by several other countries and global financial entities. The U.S. and EU regulators have remarked on this at length, while the Bank for International Settlements (BIS) said that international cooperation was necessary for CBDCs. The latter is seen as a countermeasure to stablecoins.

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