Fitch Warns Stable Coin Growth Could Affect Credit Markets
In its report, Fitch warns that the potential for asset contagion risks presented by stablecoins may result in stricter restrictions for the sector. It has been cautioned that the rise of stablecoins that are not completely backed by secure assets may result in instability of short-term credit markets, according to rating agency Fitch. Reuters said […]
The US dollar is not threatened by Foreign CBDCs and stablecoins-Fed vice-chair
Randal Quarles said although considering how stablecoins and CBDC’s are constructed, they could not disturb the US dollar. The Federal Reserve Board of Governors’ vice chair for supervision, Randal Quarles, believes that neither dollar-pegged stablecoins nor digital currencies issued by other central banks are likely to be substantial sources of worry for the US currency. […]