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The Bank for International Settlements (BIS) has raised concerns about the reliability and stability of stablecoins as a means of exchange and store of value. SEC Chair Gary Gensler has also emphasized the need for compliance with the law in the crypto space. The Federal Reserve and CFTC have expressed worries about the potential impact of crypto stablecoins on the US financial system and the need for congressional involvement in regulating crypto. These statements reflect growing regulatory scrutiny and skepticism towards stablecoins and the broader crypto industry.
U.S. SEC Chairman #GaryGensler has warned that anyone wanting to be in #crypto must "do it within the law." https://t.co/vEJUAZoZGS
#SEC Chair #GaryGensler: Anybody Wanting to Be in #Crypto Must 'Do It Within the Law' https://t.co/vEJUAZoZGS
How stable are stablecoins? Not very says the BIS https://t.co/JHdAflG2jj
The Bank of International Settlements (BIS) has expressed skepticism about the reliability of stablecoins as a store of value. https://t.co/2P9VnOdifH
ICYMI: CFTC Chair Rostin Behnam says Congress needs to play a more pivotal role in how agencies regulate crypto https://t.co/IhMO9QsMV5
The Federal Reserve’s top bank watchdog reiterated the central bank’s concern over the potential impact of crypto stablecoins on the US financial system https://t.co/4yVcgg9Rwd
Crypto has more than one fraudster, SEC Chair Gary Gensler says https://t.co/2dGJ6SRqxI
The Bank for International Settlements report questions stablecoins' stability, noting frequent deviations from their pegged assets https://t.co/gjUK5w3EvI
Crypto has more than one fraudster, SEC Chair Gary Gary Gensler says https://t.co/nuGMffgVX6
Stablecoins depeg too often to be a reliable means of exchange, researchers at the Bank for International Settlements said in a Wednesday report. @camomileshumba reports https://t.co/a7E1V3omDu