Circle’s “stablecoin” just got a big boost from one of the largest retail cryptocurrency exchanges, but there’s a nuanced issue: the token itself isn’t regulated, at least as far as one of its overseers is concerned. On Tuesday, Circle—the peer-to-peer payment service that owns crypto exchange Poloniex—and Coinbase announced the launch of CENTRE, a consortium that aims to facilitate the adoption of stablecoins. Those are tokens that are supposed to be pegged to fiat currencies by holding them in reserves. Circle’s USD Coin (USDC) is being marketed as safe, allowing users to “move dollars anywhere in the world in minutes instead of days. Cheaply and securely.” What’s more, Circle’s status…
Blockchain and Cryptocurrency: People, Culture and Tech