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Britain proposes safety net against failing stablecoins

Published by
Reuters UK

By Huw Jones LONDON (Reuters) – Britain’s finance ministry set out plans on Tuesday for adapting existing rules to deal for any major stablecoin collapses, such as with TerraUSD this month. It is the latest sign of how regulators are trying to catch up with fast-moving developments in crypto markets which straddle national borders. “Since the initial commitment to regulate certain types of stablecoins, events in cryptoasset markets have further highlighted the need for appropriate regulation to help mitigate consumer, market integrity and financial stability risks,” the ministry said. Banks, i…

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