“A higher degree of flexibility in backing assets will increase diversification and reduce the risks facing issuers, and by extension, the risks that consumers face by investing into this sector,” the group said, comparing U.K.’s proposal to Singapore’s reserve requirements, which say stablecoins can be backed by “highly liquid and low-risk assets,” including cash and cash equivalents.

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• Source: https://www.coindesk.com/policy/2024/02/09/uks-planned-stablecoin-rules-need-reworking-crypto-advocates-say/?utm_medium=referral&utm_source=rss&utm_campaign=headlines