EU crypto rules would allow terra, just not as a stablecoin
— European, West, Investors, Wild, Stablecoin, Really, Allow, Crypto, Wiping, Wasnt, Version, Rules, Terra, Laws — 1 min read
The collapse of terraUSD rocked crypto markets in May, wiping out many of its retail investors and hurting confidence in the structure of so-called algorithmic stablecoins. The European Union is the closest major jurisdiction in establishing its own laws to protect investors in the wild west of crypto, but would the soon-to-be-agreed laws have protected investors from a European version of TerraUSD? Yes and no. A digital provider could market a digital provider that offers a digital service to market a stablecoin in the U.S. It was stable until it really, really wasn’t, and that's not the case anymore, it's not a matter of how it is now, it’s the case. Source