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ARTICLE · 03 NOVEMBER 2021

President's Working Group Report Attacks Stablecoins As Well As CeFi Platforms And DeFi Protocols

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In as much an attack on centralized crypto asset trading ("CeFI") platforms and decentralized finance ("DeFi") protocols as stablecoins, the President's Working Group on Financial Markets.

United StatesTechnology
Katten Muchin Rosenman LLP
Katten Muchin Rosenman LLP
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In as much an attack on centralized crypto asset trading ("CeFI") platforms and decentralized finance ("DeFi") protocols as stablecoins, the President's Working Group on Financial Markets, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Current (collectively "Regulators") issued a much anticipated report on November 1, 2021, making recommendations that Congress should implement through new laws to better regulate stablecoins.

Indeed, first and foremost among the risks of stablecoins spotlighted by the Regulators were stablecoins potential use to facilitate "speculative digital asset trading" on CeFi platforms or through DeFi protocols which "presen[t] risks related to market integrity and investor protection." 

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