There are all kinds of predictions involving the crypto market following the latest disaster. Check out the latest reports below.
U.S. Securities and Exchange Commission (SEC) official Hester Peirce addressed the latest issues in the market.
US SEC official addresses stablecoin regulations
She said that future stablecoin regulation needs to allow room for “failure” amid the collapse of Terra (LUNA) this week.
It’s important to note that she spoke at the annual Digital Monetary Institute Symposium on Thursday, Peirce predicted that stablecoin regulation could be on the horizon.
“I think one place… We might see some movement is around stablecoins. That’s an area that obviously this week has gotten a lot of attention, but I think more generally, it’s been one area within crypto that’s really had quite a moment, and there’s a lot of use of stablecoins and therefore, people are thinking down the road if this gets even bigger, do we want to have some kind of a regulatory framework.”
She continued and said the following:
“Some people have suggested that should be at the SEC. Other people want it to be at the banking regulators, so there are different potential options for approaching stablecoins.”
Peirce is an important crypto supporter and she said that one term can cover very different types of assets. She also explained that there can be huge variations among stablecoins.
She addressed the importance of bringing regulation, but she made sure to highlight the fact that this is difficult because it needs to cover the varied offerings of stablecoins that exist today, as well as any potential technology that could exist in the future.
Check out the original article posted by the Daily Hodl in order to learn what more she had to say about the subject.