The new rules would require issuers to maintain assets equal to at least 100% of all tokens in circulation at all times, and in accounts separate from issuers’ own funds.

The regulator states in a consultation paper that stablecoins should be used for payments, not by the public as investment products or to generate yield similar to interest earned on a bank savings account.

The new rules would completely ban stablecoin issuers from paying interest or other benefits tied to customers’ stablecoin holdings.

submitted by /u/Rationalandcentred [link] [comments]

r/CryptoCurrencyRead More

You might also be interested in reading Ukraine arrests FBI-wanted cybercrime suspect, seizes $11M in assets.