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Here’s Why Shiba Inu’s SHI Stablecoin Is Still Waiting for Its Big Debut
Shiba Inu’s highly anticipated stablecoin, SHI, is yet to make its grand entrance into the market. While this news might come as a disappointment to some enthusiasts, it seems that regulatory compliance is the primary reason behind the delay.
According to reports, Shiba Inu developers are patiently waiting for “clear stablecoin regulations” before moving forward with the launch of their newly designed stablecoin. This cautious approach may seem tedious, but it’s essential to ensure the legitimacy and integrity of the SHI token in the eyes of the public.
The proposed Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act aims to provide a regulatory framework for payment stablecoins, mandating issuers to disclose crucial information about their reserves and operational practices. The passing of this bill would grant the Office of the Comptroller of the Currency (OCC) the authority to approve and supervise federally qualified non-bank payment stablecoin issuers.
While Shiba Inu waits for regulatory clarity, other related tokens within its ecosystem have already taken center stage. LEASH, or Doge Killer, offers staking rewards, metaverse developments, and exclusive NFT offerings to users. BONE ShibaSwap facilitates transactions and contributes to the efficiency of Shibarium, a layer-2 scaling solution.
Furthermore, Shiba Inu Treat (TREAT) has become operational since January this year, focusing on enhancing utility and engagement across the network’s projects and providing liquidity for SHI when it does finally debut.
Source: https://cryptopotato.com/heres-why-shiba-inus-shi-stablecoin-is-still-waiting-for-its-big-debut/
