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The 'depegging' of more than 600 fiat-pegged stablecoins in 2023 has sparked concerns from the Federal Reserve and the Bank for International Settlements. Both institutions have questioned the stability and reliability of these digital assets, noting their potential impact on the US financial system. The BIS has highlighted frequent deviations from pegged assets, while the implications of 'depegging' remain unclear. These developments raise questions about the role of stablecoins as a reliable means of exchange.
It's a big deal when a stablecoin becomes depegged. Yet there isn't a clear consensus on what precisely that means, @emilyjnicolle writes https://t.co/HXZSbSBII6
It's a big deal when a stablecoin becomes depegged. Yet there isn't a clear consensus on what precisely that means, @emilyjnicolle writes https://t.co/EUc0UCllZJ
It's a big deal when a stablecoin becomes depegged. Yet there isn't a clear consensus on what precisely that means, @emilyjnicolle writes https://t.co/WuPtGAMpHx
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
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
The Bank for International Settlements report questions stablecoins' stability, noting frequent deviations from their pegged assets https://t.co/gjUK5w3EvI
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
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/ddAAHvpOPl
#Stablecoins Wobble in 2023 as More Than 600 Fiat-Pegged Tokens 'Depeg' in 2023 https://t.co/qt84rPHpS7