Nearly one in eight U.S. adults owned crypto during 2021, according to a survey from the Federal Reserve on May 23. In the central bank’s Economic Well-Being Of U.S. Households in 2021 report, the Fed found that 12% of the 11,000 U.S. adults surveyed held cryptocurrency last year. About 92% of the Americans held crypto…

Regulators around the world are turning their attention to stablecoins after UST's collapse.

South Korean authorities have formed an emergency financial crimes unit to investigate the collapse of stablecoin protocol Terra, and fined the protocol’s founder, Do Kwon, $78M for tax evasion, local media reported. The government agencies want to understand why UST, Terra’s US dollar stablecoin, lost its peg on May 9. The crash wiped $18 billion…

“Legislation to regulate stablecoins, where used as a means of payment, will be part of the Financial Services and Markets Bill which was announced in the Queen’s Speech,” a spokesman for Her Majesty’s Treasury told The Telegraph.

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