Even 'Safe' Stablecoins Might Pose Financial Stability Risk, New York Fed Says

The emergence of Circle’s USDC stablecoin – arsenic opposed to the arguable Tether (USDT) – is simply a menace to the broader fiscal system, arsenic it could summation the accidental of tally risks from smaller issuers, researchers astatine the Federal Reserve Bank of New York wrote successful a caller insubstantial published Monday.