Sponsored: Government regulation is necessary for stablecoins or crypto to flourish in the mainstream
that stablecoins be regulated as financial market infrastructure, similar to other payment systems and clearing houses." on November 1, 2021 setting out possible hazards that stablecoins bring while also concluding that digital currencies have the potential to be a vital tool for payments in the financial services industry. It demonstrated that stablecoins have progressed to the point where they are regarded to be systemically significant.
However, if we want to see stablecoins driving innovation then it would only be possible with government authorities regulating it. According to an, stablecoins should limit or eliminate credit or liquidity risk in order to reduce user exposure in the case of de-pegging. This means that stablecoins have the capacity to stabilize a country's economic activity, and some issuers are already entering the regulatory game with their own stablecoins.
EURST’s founders are firm believers that the only reliable way for a stablecoin to assure it’s users, is to maintain a 100% collateral, held in an insured account. Since the majority of the DeFi ecosystem is not under the control of any authority, the entry of bad actors has significantly increased.
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