Coinbase adds Shiba Inu to listing, and the US is developing guidelines to limit stablecoin issuers
Coinbase adds support for SHIB token, which has risen in price by 25%
Crypto platform Coinbase has started trading the Shiba Inu token. SHIB transactions can be carried out through the exchange and its Android and iOS applications.
Following Coinbase’s announcement of the listing of the crypto coin, its value has risen by 25%, according to Coinmarketcap as of September 17. SHIB is among the 50 most popular tokens.
This spring it became known that Vitalik Buterin was the largest owner of Shiba Inu. He sent 90% of his tokens to an inaccessible address. Their cost was more than $6.5 billion.
The Ethereum co-founder clarified that he had no plans to store SHIB in his wallet. To prevent the likely movement of the token, Buterin decided to get rid of the cryptocurrency.
US Treasury is developing recommendations to restrict the crypto industry
Stablecoin holders should be able to withdraw funds from stable digital coins. This is stated in the recommendations that the US Treasury Department is developing for companies issuing stablecoins, Bloomberg claims, citing sources.
The US authorities are considering tightening the regulation of stablecoins. This could happen if the Financial Stability Oversight Board decides that such assets pose an economic threat. There are now over $120 billion in stablecoins in circulation, according to Coinmarketcap.
Earlier, the head of the European Central Bank, Christine Lagarde, said that “stablecoins pretend to be currencies, but in fact they are not, they are only tied to them.” In addition, the head of the ECB noted that “recent stories with issuers of stablecoins have shown that they may not be fully backed by fiat money, as is usually stated.”