Christopher Waller, president of the Federal Reserve, said that it is possible to strengthen its US dollar as a preliminary currency of the US dollar, so it supports the adoption of Stablecoins with clear rules and regulations.
In an interview with THINK TANK on February 6, Waller, the chairman of the Fed Board, said, “It will expand the world’s dollar and make it more preliminary than it is. ‘
“What I see in Stablecoins will open a way different from the possibility they pay for the rail,” he said.
In the opinion of Waller, good regulations in Stablecoins are preliminary currencies, strengthening the dollar and strengthening use of international trade, finance and investment.
According to a October report by Venture Capital company Andreessen Horowitz, the US dollar accounts for more than 99% of Stablecoin currency shares, while the largest Stablecoin accounted for almost 80% of the Stablecoin transaction.
https://www.youtube.com/watch?v=29yqrxgchks
Waller said, “We see stablecoins in the payment system.
“You will want to see if the regulatory rails around them have money and are approved, and who are completely supported.”
Concerns are increasing that the US dollar can lose its dominance as a preliminary currency in the world and become a currency of international and commodity transactions.
BRICS, a coalition of countries, including Brazil, Russia, India, China and South Africa, is promoting international trade far from US dollars.
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Waller said Stablecoin would be much more complicated to try to suppress other countries in other countries.
Waller said, “There are many rules in most countries that want to prevent or prevent it because of dollars.
“It is much harder to stop the stable coin than to seize the calls that people can do in the bedroom. It’s a little harder to take out from the blockchain. ”
According to a chain analysis report in October, the United States is falling behind the adoption of Stablecoin, and in 2024, the market share of Stablecoin trading at the US regulatory exchange has fallen below 40% in 2024, while the marine exchanges have increased to 60%.
Senator Bill Hagerty came out on February 4 with the introduction of a genius Stablecoin Bill to create a regulatory framework for encryption tokens with many US highlands.
The bill suggests that stable assets will be defined as digital assets fixed in US dollars. The Federal Reserve Bank Regulations will controll the tokens with a market cap of more than $ 10 billion in market cap, and the state will regulate the issuer less than the critical value.
On the same day, David Sacks, the encryption Czar of US President Donald Trump, has taken the Stablecoin Innovation onShore to adopt BTC (Bitcoin) and the development of blockchain, along with the development of the main focusing area.
The market cap of Stablecoin has grown since mid -2012, exceeding $ 200 billion in January.
They also adopted large -scale adoption in 2024, led by the increase in the use of bots in 2024, and the total eye transass amounted to $ 27.6 trillion, and increased the combined Visa and Master Card by 7.7%.
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