The collapse of the TerraUSD (UST) stablecoin, whose total value swelled to $18 billion before collapsing earlier in early May 2022. Crypto investors lost billions. Japan became one of the first major jurisdictions to introduce a legal framework around stablecoins. Japan’s parliament passed a bill, defining them essentially as digital money, FinTelegram reports. Thus, stablecoins can only be issued by regulated entities and must be linked to the yen or another legal tender and guarantee holders the right to redeem them at face value.
The EU is strengthening the IT protection of monetary entities, including banks, coverage corporations, and funding companies. On 10 Maz 2022, the EU Council...
