More Oversight Could Actually Benefit Stablecoins

ETF Trends | Jul 27, 2021 at 1:00 PM
  • One of the primary sources of allure for many investors when it comes to cryptocurrency is that the asset class is decentralized, meaning unlike the dollar or yen, an asset like Bitcoin isn’t backed by a central bank.
  • Stablecoins are one area where banks and fintech providers may actually be in favor of added oversight.
  • The U.S. Office of the Comptroller of the Currency (OCC) provides something of a framework for how financial institutions can handle stablecoins, including holdings of those assets and elevated transaction volume.