Hello Crypto Fam.
So, the FSB has released a recommendation on stablecoin regulation. They are doubting the notion that stablecoins are "stable," arguing that issuers lack the necessary tools to keep their stablecoin peg at all times, implying that no stablecoin currently meets their recommendations.
This is what they said about it:
Most existing stablecoin issuers promise (implicitly or explicitly) to maintain a stable value, typically relative to a single fiat currency. However, many of these existing stablecoins are issued by unregistered and unlicensed entities and do not have credible mechanisms to support their promise of price stability.
What do you guys think about this? Would you recommend the use of stablecoins or they just aren't worth the risk?
Original source of the story:
https://tokenist.com/fsb-says-no-stablecoin-currently-passes-its-recommendations/Bitcoin is also not safe let alone stable coins, once investing in crypto you should know that this market is full of risks. Your assets can be lost, disappeared or hacked at any time. In my opinion, stablecoins are altcoins so their safety is considered similar to altcoins. Do you believe altcoins are safe?