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A comment on Three Arrows Capital has defaulted on a loan worth more than $670M. Parent comment

Re:Three Arrows Capital has defaulted on a loan worth more t... by adrr on Monday June 27, 2022 @02:07PM (#31898327)
UK is talking about backstopping the stable coins is an example of influence. I assume they are referring to Tether which hasn't completed an audit.

https://www.cnbc.com/2022/05/31/uk-plans-new-safeguards-for-...

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Re:Three Arrows Capital has defaulted on a loan worth more t... by JumpCrisscross on Monday June 27, 2022 @03:34PM (#31899648)
> UK is talking about backstopping the stable coins

London’s talking about regulating and ringfencing them. Not backstopping.

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Re:Three Arrows Capital has defaulted on a loan worth more t... by seanhunter on Tuesday June 28, 2022 @01:45AM (#31904514)
Yes exactly. Having a regulatory regime to resolve a failure and minimise contagion (which is one of the things they're talking about) makes sense and cases like this 3AC one show why. It's not about protecting crypto participants, it's about reducing the damage to the system overall and impact to non-crypto participants caught in the blast radius when something central fails.
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