His belief that stablecoins – digital currencies whose value is tied to a currency or a commodity, such as gold – will be the first to be subject to rules was expressed by billionaire investor Mark Kuban.
More specifically, the owner of the Dallas Mavericks basketball team, in his Twitter posts, appeared confident that the stablecoins market will be the first to impose rules and controls by U.S. regulators, as he believes that payments to stablecoins of those involved in cyberattacks pave the way for action and sanctions to make the work of hackers even more difficult.
According to CNBC, Kuban’s posts come at a time when regulators in the United States appear convinced that cryptocurrencies – including stablecoins – pose a potential threat to the country’s financial system and its stability.
Already, the head of the US Securities and Exchange Commission has said that stable digital currencies may be one of the areas in which rules will be attempted in the near future, while the head of the Federal Reserve, Jerome Powell, who has repeatedly warned that stablecoins are quite vulnerable to fraud, is also on the same wavelength – like the rest of the cryptocurrencies.
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