British Regulators Have Unique Solution to Fix Stablecoin Collapse

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The Street

By Veronika Bondarenko The UK is eyeing safeguards that can be put in place to avoid a “bank run” like those seen during the 2008 crisis. The words crypto and volatility are often repeated alongside one another but, when a stablecoin like terra crashes, entire economic systems can be caught off guard. Stablecoins, or a cryptocurrency that’s value is tied to another currency or asset, are meant to provide stability in a market known for its ups and downs. But amid an across-the-board fall observed across cryptocurrency over the last few weeks, even stablecoins started losing their value and upr…

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