Stablecoins Like Tether Are 'Confusing,' Says European Central Bank

[MRM]

The term "stablecoins" can be confusing and misleading, and the digital assets may have negative impacts on the economy, says the ECB in a new report. The European Central Bank said today that the term “stablecoin” can be “confusing, even misleading.” That’s because there are different types of stablecoins, said the bank, which use different stability methods to maintain their price. What’s more, these cryptocurrencies are vulnerable to attack, and their widespread adoption could break the global markets, its Crypto-Assets Task Force wrote in a paper, published today.
Source: https://decrypt.co/42659/stablecoins-like-tether-are-confusing-says-european-central-bank