Developers of the fast-growing stablecoin UST say the coin’s $1 value peg isn’t “backed” by anything – just a blockchain-based algorithm. So why does it need a multibillion-dollar bitcoin reserve, in case of an emergency? How would that work?
Credit: Source link
FDIC working on new crypto guidelines, eyes public blockchain use by banks
The Federal Deposit Insurance Corporation (FDIC) is formalizing a more permissive and transparent framework for US banks engaging with crypto,...