The recent collapse of the popular stablecoin shows that tokens are not ready for use by consumers to make payments, according to a key U.S. security guard. From the report: “People are wondering: will this one day be used for consumer payments?” Rohit Chopra, director of the Consumer Financial Protection Bureau, said in an interview with Bloomberg TV on Monday. “Many think he’s not ready yet.”

[…] Chopra said a “movement” to regulate the crypt could take place this year. Regulators are examining a number of issues, including rules for stablecoins, according to an order from President Joe Biden. “Many people thought that stablecoin would be as good as the dollar,” Chopra said. “But they’ll find out it’s not.”

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