Speaking in Singapore, Bank of England Deputy Governer Jon Cunliffe said regulators need to “get on the job” of regulating cryptos, and shared insights on
Cryptocurrencies may not be"integrated enough" into the rest of the financial system to be an"immediate systemic risk," Cunliffe said, but he said he suspects the boundaries between the crypto world and the traditional financial system will"increasingly become blurred."
regulatory framework to encompass crypto"must be grounded in the iron principle of 'same risk, same regulatory outcome.'" Stablecoins are a type of cryptocurrency that are supposed to track a real world asset, usually another currency. Many of them attempt to peg themselves one-to-one with the U.S. dollar or another fiat currency. Some of them are backed by real-world assets such as bonds or currencies.collapse of terraUSD
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