Sonic Labs has scrapped plans for its algorithmic USD stablecoin, bowing to U.S. regulatory pressure just days after co-founder Andre Cronje hyped the project. The sudden pivot underscores crypto’s fragile dance with lawmakers—and the lingering shadow of Terra’s $40B collapse.
The Regulatory Red Flag
Congress’s draft STABLE Act and GENIUS bill propose a two-year ban on algorithmic stablecoins, citing risks like Terra’s UST implosion in 2022. Lawmakers argue these models are too volatile for mainstream adoption.
Read More : https://onthenode.com/technology/sonic-labs-hits-brakes-on-algorithmic-stablecoin-amid-regulatory-storm
The Regulatory Red Flag
Congress’s draft STABLE Act and GENIUS bill propose a two-year ban on algorithmic stablecoins, citing risks like Terra’s UST implosion in 2022. Lawmakers argue these models are too volatile for mainstream adoption.
Read More : https://onthenode.com/technology/sonic-labs-hits-brakes-on-algorithmic-stablecoin-amid-regulatory-storm
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