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Stablecoin Broke: Crypto Bros Unleash New Regulatory Sledgehammer on Themselves

Crypto NewsRegulation/NegotiationRetail Investors 5 Linda Williams August 16, 2024

An illustration of a large hammer with multiple faces on its head each representing different risks (operational, technological, market trading) smashing into a pile of coins labeled as stablecoins while in the background there is an image of traditional banking regulations being blown away by strong winds. The scene depicts chaos and destruction but also hints at renewal through the use of broken pieces forming new shapes resembling building blocks for better regulation.

The crypto bros are at it again! This time they’re coming up with some new framework called TCAF (Token Capital Adequacy Framework) because their precious stablecoins aren’t regulated enough. Because we all know that’s what the problem is – not the fact that these things have no inherent value and only serve to facilitate money laundering

Source: cointelegraph

Circle proposes new capital-risk framework for stablecoins
https://cointelegraph.com/news/circle-proposes-new-capital-risk-framework-stablecoins
Circle, the issuer of the USD Coin (USDC) stablecoin, recently published a white paper titled “Risk-based Capital for Stable Value Tokens," proposing a new risk-based capital management model for stablecoins and other digital cash tokens. The paper’s authors argue that stablecoins need adequate capital reserve requirements that go beyond the current capital standards established under the Basel banking regulatory frameworks to mitigate risks unique to stablecoins, other fiat-equivalent tokens and their issuers. […]

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About the author

Linda Williams

Linda’s venture into cryptocurrency ended in a gut-wrenching disaster when she lost her private keys due to a ridiculous mishap involving coffee and a particularly reckless cat. With her funds locked away forever, Linda now pours her frustration into writing biting critiques of crypto’s absurdities, dripping with sarcasm. Her tagline? “I lost my private keys and my sanity. Crypto promised freedom, but all it gave me was a lifetime of regret.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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