Morgan Stanley Says US Could Regulate Stablecoin Issuers Like Banks

Implications for the crypto markets could be far reaching as about 60% of bitcoin and ether exchanges are trades versus a stablecoin, and stablecoin lending has become an important part of centralised and decentralised finance (DeFi), the note added. DeFi is an umbrella term used for lending, trading and other financial activities carried out on a blockchain, without needing any third parties.

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