Christopher Waller supports regulated stablecoins to strengthen the US dollar’s position as a global reserve currency. He believes stablecoins will enhance payment options and reinforce the dollar in international finance. An October report states that Tether USDT comprises nearly 80% of stablecoin trading volume.
Waller argues that effective regulation is crucial to safeguard the US dollar from growing competition, like BRICS. Legislative measures, including Senator Hagerty’s GENIUS bill, aim to create a regulatory framework for stablecoins, classifying them as digital assets pegged to the dollar.
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