China Switzerland Stablecoin Adoption defi regulation China Switzerland

Swiss National Bank exec: Regulators may favor centralized stablecoins after Terra crisis

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cointelegraph.com

Swiss National Bank (SNB) deputy head Thomas Muser talked to Cointelegraph editor Aaron Wood and discussed the ongoing trends in central bank digital currencies (CBDCs), stablecoins, and regulations, during the recently concluded European Blockchain Convention (EBC) 2022.Talking about the innovation and adoption of private stablecoins and plans of central banks regarding the CBDC launch, Moser said both could co-exist.

He said that CBDC's function would be very basic and private stablecoin issuers can add services on top of them to meet retail customers' needs.When asked about the recent collapse of the Terra’s UST and its subsequent impact on regulations, Moser said that the recent spiral crash of the Terra and its decentralized algorithmic stablecoin UST could have a lasting impact on the regulators.

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