Senator Bill Hagerty says that a part of the encryption industry will be the largest holder of the US Treasury.
Hagerty said in a new interview on CNBC television, the publisher of the STABLECOIN said he would purchase a huge amount of US Treasury as a preliminary fund to maintain digital assets fixed in dollars.
Hagerty says.
“The publisher of Stablecoin will be the largest US financial holder in the world.”
Hagerty introduced guidance and establishment for the US Stablecoins Act, which aims to establish federal regulations on the use of Stablecoins. This bill is now discussed by parliament.
Hagerty asked what Stablecoins would reverse.
“It will be a stock. It will be a short -term US Treasury or a high -quality short -term asset. Most people will be the US Treasury.”
On Monday, Hagerty celebrated that the bill approached more to become a law.
“Tonight, the Senate went forward to the genius law, and the legislative legislation will bring the US payment system to the 21st century. The genius acts will bring the US to the Sky Rocket with a digital payment framework with the fastest rails, which will guarantee the US dollar control. We are going to create a history with our colleagues this week.
Potential legislation must be a 1: 1 ratio for the STABLECOIN issuer. The bill also states that the STABLECOIN issuer protection area can be composed of US currency. Funds held by insurance depositors as demand deposits or insurance stocks; Treasury bill, notes or bonds.
https://www.youtube.com/watch?v=hc3vgv2wiuu
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