William Barr Warns of Risks Posed by Non-regulated Stablecoins!

The post William Barr Warns of Risks Posed by Non-regulated Stablecoins! appeared first on Coinpedia Fintech News

US Attorney General William Barr has warned that the widespread use of non-federally regulated stablecoins as a means of payment and store of value could pose significant risks to financial stability and the US payments system. Speaking at a fintech conference at the Federal Reserve Bank of Philadelphia, Barr added that such stablecoins could also endanger monetary policy. Stablecoins such as Facebook’s Libra have faced regulatory hurdles in the US due to concerns about consumer protection and systemic risks.