USDC depeg will hinder stablecoins’ growth, increase regulatory scrutiny — Moody’s By Cointelegraph

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Cryptocurrency 1 hour ago (Mar 18, 2023 06:20PM ET)

Recent turmoil in the traditional banking sector, culminating in USD Coin (USDC) losing its peg, could negatively affect stablecoin adoption and potentially increase calls for regulation, argued credit rating agency Moody’s Investors Service.

In its latest “Sector Comment” report published on March 16, Moody’s says fiat-backed stablecoins could face new resistance following USDC’s depegging on March 10.

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USDC depeg will hinder stablecoins’ growth, increase regulatory scrutiny — Moody’s

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