Crypto Rules Crackdown Looms for $150 Billion Stablecoin Market

Aug. 15, 2022, 9:00 AM

As crypto’s most traded tokens, stablecoins have ballooned in circulation under a relatively light-touch regulatory regime. That’s about to change.

Lawmakers in the US, the EU, the UK, Japan and others are considering rules that would overhaul the $150 billion sector. Several of these proposed restrictions are intended to bring issuers of the tokens — which are cryptoassets designed to keep a one-to-one peg with a less volatile currency like the US dollar — under the same financial regimes as payment providers.

More specifically, regulators want a say over the types of assets that stablecoin providers can use to fill …