TechFlow news: Coinbase and Circle have raised concerns over the Basel Committee's proposed requirements for stablecoins, calling them overly stringent and potentially restrictive to banks' holding and use of stablecoins.
Meanwhile, Circle criticized the Committee's approach toward permissionless blockchains, arguing that banks should be encouraged to leverage technologies like blockchain to drive digital transformation. The Committee, a global standard-setter, includes countries such as the United States, Canada, and Japan among its members.
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