The recently launched French Euro stablecoin, dubbed EURCV, has drawn criticism for its centralized nature and “worst code” assessment. These remarks have caused others to worry about the security of the coin and its possible effects on the larger cryptocurrency market.

On April 20, the French bank Societe Generale-Forge (SGF), decided to launch EUR CoinVertible (EURCV), an Ethereum-based stablecoin that is only accessible to authorized institutional clients. As reported, Societe Generale would only make EURCV available to the investors it had brought on board through its already-in-place Know Your Customer (KYC) and Anti-Money Laundering (AML) policies.

Researchers who looked at the stablecoin’s smart contract code discovered that its ERC-20 transfers require authorization from an in-house registrar before the transaction is carried out.

https://crypto-economy.com/euro-stablecoin-under-fire-for-centralized-approach-and-worst-code-label/

The recently launched French Euro stablecoin, dubbed EURCV, has drawn criticism for its centralized nature and “worst code” assessment. These remarks have caused others to worry about the security of the coin and its possible effects on the larger cryptocurrency market.

On April 20, the French bank Societe Generale-Forge (SGF), decided to launch EUR CoinVertible (EURCV), an Ethereum-based stablecoin that is only accessible to authorized institutional clients. As reported, Societe Generale would only make EURCV available to the investors it had brought on board through its already-in-place Know Your Customer (KYC) and Anti-Money Laundering (AML) policies.

Researchers who looked at the stablecoin’s smart contract code discovered that its ERC-20 transfers require authorization from an in-house registrar before the transaction is carried out.

https://crypto-economy.com/euro-stablecoin-under-fire-for-centralized-approach-and-worst-code-label/