CryptoMediaClub
Tuesday, July 29, 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

Tron Inc. Registers $1B in Securities to Pivot Into TRX-Focused Crypto Treasury
All news

Tron Inc. Registers $1B in Securities to Pivot Into TRX-Focused Crypto Treasury

29.07.2025
0

Tron, Nasdaq-listed company formerly known for selling theme park souvenirs, has filed to register up to $1 billion in securities...

Read moreDetails
Bitcoin ETFs Log Third Day of Gains as Ethereum Inflows Hit 17-Day Streak

Bitcoin ETFs Log Third Day of Gains as Ethereum Inflows Hit 17-Day Streak

29.07.2025
Interactive Brokers Mulls Stablecoin Launch to Serve Users

Interactive Brokers Mulls Stablecoin Launch to Serve Users

29.07.2025
Crypto Price Prediction Today 28 July – XRP, Solana, Dogecoin

Crypto Price Prediction Today 28 July – XRP, Solana, Dogecoin

29.07.2025
South Korea’s Biggest Parties Roll Out Stablecoin Bills, Clash on Interest Payment Plans

South Korea’s Biggest Parties Roll Out Stablecoin Bills, Clash on Interest Payment Plans

29.07.2025
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

NEAR Price Surges 13% Post Partnership With Alibaba Cloud

NEAR Price Surges 13% Post Partnership With Alibaba Cloud

2 years ago
Blur NFT lending surpasses $16M in loans, led by Machi Big Brother

Blur NFT lending surpasses $16M in loans, led by Machi Big Brother

2 years ago
TOKEN2049 Returns to Singapore with High-Profile Sponsors and Stellar Speakers

TOKEN2049 Returns to Singapore with High-Profile Sponsors and Stellar Speakers

2 years ago
IBM, Microsoft, others form post-quantum cryptography coalition

IBM, Microsoft, others form post-quantum cryptography coalition

2 years ago

Categories

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

Highlights

Crypto Price Prediction Today 28 July – XRP, Solana, Dogecoin

BlackRock’s ETHA becomes 4th-largest ETF by 30‑day inflows as Ethereum funds aim for $10B

South Korea’s Biggest Parties Roll Out Stablecoin Bills, Clash on Interest Payment Plans

Bitcoin Faces Doomsday Scenario as Whales Exit – Bitcoin Hyper (HYPER) Rewrites the Narrative, ICO Hits $5.4M

Bitcoin steadies near $114,800 but fragility risk rises as leverage climbs

BNB ($BNB) Bulls Charge Ahead to $843, Can Institutional Momentum Push It Higher?

Trending

Tron Inc. Registers $1B in Securities to Pivot Into TRX-Focused Crypto Treasury
All news

Tron Inc. Registers $1B in Securities to Pivot Into TRX-Focused Crypto Treasury

29.07.2025
0

Tron, Nasdaq-listed company formerly known for selling theme park souvenirs, has filed to register up to $1...

Bitcoin ETFs Log Third Day of Gains as Ethereum Inflows Hit 17-Day Streak

Bitcoin ETFs Log Third Day of Gains as Ethereum Inflows Hit 17-Day Streak

29.07.2025
Interactive Brokers Mulls Stablecoin Launch to Serve Users

Interactive Brokers Mulls Stablecoin Launch to Serve Users

29.07.2025
Crypto Price Prediction Today 28 July – XRP, Solana, Dogecoin

Crypto Price Prediction Today 28 July – XRP, Solana, Dogecoin

29.07.2025
BlackRock’s ETHA becomes 4th-largest ETF by 30‑day inflows as Ethereum funds aim for $10B

BlackRock’s ETHA becomes 4th-largest ETF by 30‑day inflows as Ethereum funds aim for $10B

29.07.2025
  • 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