American financial industry discusses stablecoins with US Treasury

TL;DR Breakdown • Since last year, stablecoins have gained popularity in the crypto market.• Regulatory agencies will meet with investors, companies, and banks to discuss stablecoins. The financial industry in North America is trying to understand the potential and dangers of cryptocurrencies for financial services. This investigation will build measures that the regulator will announce before the end of the year. The Board of the Treasury Department had a meeting with the companies that promote cryptocurrencies, especially stablecoins that have caused enthusiasm on the internet. The US agency wanted to check the function of the cryptos and what guarantees they offer to users who adopt them. The financial industry tries to get to know the stablecoins The capital city congress has been haunted by cryptocurrencies and their rampant adoption since last year. In April alone, decentralized currency purchases reached $2 trillion. About stablecoins, their market value reached $125 billion since they came to light. It is not known with certainty the prohibitions that the agency will show on stablecoins. The agency only wants to have a basis to act on cryptocurrencies. In July, a chancellor said that the authorities should work immediately to regulate crypto and stablecoins. The legislation activated a plan to control the financial market to defeat traditional commerce with the latest measures. Potential measures on stablecoins price...