WebMay 6, 2024 · Stablecoins are a less volatile form of cryptocurrency. Stablecoins can be backed by a variety of real-world assets. WebAug 5, 2024 · In an analogy given by Gary Gensler, the crypto industry has been compared to the Wild West, and the exchanges as the casinos. He expanded on that analogy in the recent interview and referred to Stablecoins as a ‘casino chip’ or poker chip for the casinos in this “Wild West”. Gary Gensler and the SEC are currently making efforts to ...
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WebAug 6, 2024 · In describing stablecoins as casino poker chips, he considers them to be gambling instruments. In the interview, Gensler claimed that most crypto projects deal with securities and thus, should be brought under the SEC regulatory authority while the Commodity Futures Trading Commission (CFTC) has better regulatory jurisdiction over … WebStablecoin. A Stablecoin is a type of cryptocurrency where the value of the digital asset is supposed to be pegged to a reference asset, which is either fiat money, exchange-traded … WebFeb 25, 2024 · Stablecoins are designed to maintain price stability and bridge the gap between fiat money and cryptocurrencies. They are pegged to traditional assets like fiat … easty st phillip