Lawmakers in the US, the EU, the UK, Japan and others are considering rules that would overhaul the $150 billion sector. Several of these proposed restrictions are intended to bring issuers of the tokens — which are cryptoassets designed to keep a one-to-one peg with a less volatile currency like the US dollar — under the same financial regimes as payment providers.
***
“It’s a case of do or die for stablecoin issuers,” said Hirander Misra, chairman of market infrastructure body GMEX Group. “They will have to prove they have proper reserves and be transparent in terms of being audited, or else will be ultimately forced to cease to exist.”
Source: Crypto Regulation Crackdown Looms for Stablecoin (USDT, USDC) Market – Bloomberg
