Law Decoded: The long waves in the aftermath of UST’s crash, May 16-23 By Cointelegraph


Law Decoded: The long waves in the aftermath of UST’s crash, May 16-23

It’s been two weeks since the shock of the TerraUSD (UST) depegging, but the long waves of this event are still coming in. The Congressional Research Service described the UST crash as a “run-like” scenario and claimed that the crypto industry has not reached the same level of “adequate regulating” as the traditional finance market.

Michael Barr, former advisory board member of Labs and United States President Joe Biden’s pick for a vice chair for supervision at the Federal Reserve, definitely agrees with that. During the confirmation hearing, he mentioned “some significant risks” that innovative technologies and cryptocurrencies, in particular, bring along.

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