What to know about 'stablecoins,' the 'bridge' between cryptocurrencies and traditional money

into Tether that said there were periods of time when Tether did not have access to banking and"held no reserves to back tethers in circulation at the rate of one dollar for every tether, contrary to its representations." As part of a settlement reached with James’ office, Tether is barred from doing business with New Yorkers but admitted no wrongdoing and pledged increased transparency.

"If everybody thinks Tether is going to be a stablecoin, it will work as a stablecoin and the few people that need to exchange it at the 'Tether store,' to be colloquial, would do that," he said.

Segram said that while stablecoins can"regulate themselves to some extent by being transparent with the public, I think Yellen is calling for more top-down regulations rather than let it be voluntary." "If for whatever reason that stablecoin has a shock to it -- that can be a systemic event to the financial system," he added."That is what's on the Fed's radar."earlier this month in Aspen.

The world is not ready for blockchain technology.

How stable is a $? A carrot is worth 20 cents here, same carrot is worth 50 there. So is $1 the same yesterday as today? Inflation is attached to every currency. And to me that means there is no stablecoin at all. Still fiat currency may be more stable for now.

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