New Zealand’s central bank governor, Adrian Orr, raised concerns about the stability of cryptocurrencies, particularly stablecoins, during a parliamentary committee meeting on Monday. He criticized these tokens as “misnomers” and “oxymorons,” highlighting their vulnerability to traditional financial turmoil and potential to disrupt real-world markets, Bloomberg reported. Stablecoins are designed to maintain a consistent value, often pegged to real-world assets like the US dollar. However, Orr emphasized that their stability hinges on the financial strength of the issuing entity, raising doubts about their reliability.
Check out the hashd app. It gives you important crypto news and updates in short, simple and easy to read slides. Amazing!
Android: https://links.hashd.co/android
Comments