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FCA will ‘completely’ take into account current stablecoin depegging when drafting crypto guidelines: Report
Sarah Pritchard, the manager director of markets at the UK’s Monetary Conduct Authority, or FCA, reportedly stated that the regulator will take a look at the current volatility within the crypto markets when creating guidelines for the area in 2022.
Based on a Friday Bloomberg report, Pritchard stated the monetary regulator will “completely” keep in mind stablecoins like TerraUSD (UST) and (USDT) depegging from the USA greenback in drafting regulatory tips with Her Majesty’s Treasury for launch later this 12 months. Whereas the USDT value solely briefly dropped to $0.97 on Might 12, UST has fallen greater than 93% since Might 9 to achieve roughly $0.06 on the time of publication.
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