CryptoMediaClub
Thursday, July 3, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

USD-Pegged Stablecoins Could Boost Dollar Dominance: Fed Governor

16.02.2024
A A
0
128
VIEWS
ShareShare

The US Fed Governor Christopher Waller, who previously voiced cryptos are “risky,” now throws a positive stance on dollar-pegged stablecoins.

Speaking at a conference in Nassau, Bahamas on Thursday, Waller said that decentralized finance (DeFi) could actually boost dollar dominance. He stressed that dollar-pegged stablecoins, such as Tether (USDT) and USD Coin (USDC), would strengthen the USD’s global reach.

“About 99% of stablecoin market capitalization is linked to the U.S. dollar, meaning that crypto-assets are de-facto traded in USD.”

Any expansion of trading in the DeFi will “simply strenghthen the dominant role of the dollar,” he further noted.

Usually, the rapid growth of cryptos could reduce the reliance on the US dollar. However, it is unlikely, as most DeFi trading uses USD-pegged cryptos, he noted.

Waller took charge on the central bank’s board in 2020 during Donald Trump’s presidential tenure. In February 2023, Waller warned crypto buyers that they could lose their entire investments.

He argued at the time that cryptos don’t have any intrinsic value and amount to nothing more than “risky” speculation. “To me, a crypto-asset is nothing more than a speculative asset, like a baseball card,” he noted.

Stablecoin Bill Coming Soon?

In the meantime, lawmakers in the US are pushing on stablecoin bill – a long-awaited win for cryptos. In a recent interview with Politico, Representative Maxine Waters said that a stablecoin legislation is “very, very close” to reaching an agreement. “We’re working on stablecoin; we’re getting very close,” Waters noted.

Waters has been negotiating on stablecoin legislation with House Financial Services Committee Chair Patrick McHenry for more than 20 months.

Additionally, crypto market heads such as Circle’s CEO Jeremy Allaire have voiced optimism on the US’s stablecoin law. Speaking in an interview with CNBC at World Economic Forum in Davos early this year, he said there is “momentum” and a “very good chance” of seeing a stablecoin legislation this year.

Furthermore, many jurisdictions have emerged in embracing cryptos to foster innovation, while maintaining a key eye on regulatory safeguards. Singapore, for instance, has long been acknowledged as a welcoming environment for the crypto sector.

In August 2023, the Monetary Authority of Singapore (MAS) released a regulatory framework for stablecoins, applicable to single-currency stablecoins (SCS).

The post USD-Pegged Stablecoins Could Boost Dollar Dominance: Fed Governor appeared first on Cryptonews.

Share10Tweet6ShareSharePin2

Related Posts

Why Is Crypto Up Today? – July 3, 2025
All news

Why Is Crypto Up Today? – July 3, 2025

03.07.2025
0

The crypto market is up today, after several days of trending mildly downwards. Nearly all of the top 100 coins...

Read moreDetails
Scammers Steal $250K in Crypto Posing as Trump-Vance Inaugural Committee

Scammers Steal $250K in Crypto Posing as Trump-Vance Inaugural Committee

03.07.2025
First US Solana Staking ETF Sees $12M Inflows on Debut With $33M Volume

First US Solana Staking ETF Sees $12M Inflows on Debut With $33M Volume

03.07.2025
OpenAI Disavows Robinhood’s Tokenized Shares, Elon Musk Chimes In – What’s Going On?

OpenAI Disavows Robinhood’s Tokenized Shares, Elon Musk Chimes In – What’s Going On?

03.07.2025
Binance Pay Lights Up French Riviera: 80+ Merchants Now Take Stablecoins Instantly

Binance Pay Lights Up French Riviera: 80+ Merchants Now Take Stablecoins Instantly

03.07.2025
Load More
Next Post
New WWE Collection Hits the Shelves + More NFT News

New WWE Collection Hits the Shelves + More NFT News

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Bitcoin traders call for calm as BTC price slips 10% in a week

Bitcoin traders call for calm as BTC price slips 10% in a week

2 years ago
DPRK Hackers Stole $659M in Crypto Final Yr: US Govt.

DPRK Hackers Stole $659M in Crypto Final Yr: US Govt.

6 months ago
White House to build international standards for DLT

White House to build international standards for DLT

2 years ago
South Korea to Tighten Token Exchange Regulations, Including Blocking Hacked Tokens

South Korea to Tighten Token Exchange Regulations, Including Blocking Hacked Tokens

1 year ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

OpenAI Disavows Robinhood’s Tokenized Shares, Elon Musk Chimes In – What’s Going On?

Solana dominates real value rankings, DEX volume during H1

Binance Pay Lights Up French Riviera: 80+ Merchants Now Take Stablecoins Instantly

Bithumb Launches Spinoff as Part of IPO Bid as More Banks Join Stablecoin Union

StanChart predicts Bitcoin’s new cycle may defy past patterns with ETF and policy tailwinds

Trump Family Rakes In $620M+ From Crypto: Meme coin Windfall, Token Sales, and a 20% Bitcoin Stake

Trending

Why Is Crypto Up Today? – July 3, 2025
All news

Why Is Crypto Up Today? – July 3, 2025

03.07.2025
0

The crypto market is up today, after several days of trending mildly downwards. Nearly all of the...

Scammers Steal $250K in Crypto Posing as Trump-Vance Inaugural Committee

Scammers Steal $250K in Crypto Posing as Trump-Vance Inaugural Committee

03.07.2025
First US Solana Staking ETF Sees $12M Inflows on Debut With $33M Volume

First US Solana Staking ETF Sees $12M Inflows on Debut With $33M Volume

03.07.2025
OpenAI Disavows Robinhood’s Tokenized Shares, Elon Musk Chimes In – What’s Going On?

OpenAI Disavows Robinhood’s Tokenized Shares, Elon Musk Chimes In – What’s Going On?

03.07.2025
Solana dominates real value rankings, DEX volume during H1

Solana dominates real value rankings, DEX volume during H1

03.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz