TerraUSD (UST-USD), which was the third-largest stablecoin in the cryptocurrency market just a couple weeks ago, has since unpegged from the U.S. dollar and collapsed along with its reserve asset Luna (LUNA1-USD). According to Circle CEO Jeremy Allaire, such a crypto collapse could spur legislators to take quicker action towards regulating the digital asset space.
“When you have a major blowup, it’s certainly going to accelerate the need for Congress to act and establish some perimeters…
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