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‘Pass stablecoin legislation now:’ Exec on concerns over illicit financing

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The market capitalization of stablecoins stands at $155.55 billion, with a slight drop of 0.01% in 24 hours.

Stablecoins play a pivotal role in linking traditional fiat currencies with the digital asset space, offering a fixed value typically pegged to the U.S. dollar. However, as demand for stablecoins rises, so does the concern over illicit financing.“One thing is clear: if we are serious about addressing the small percentage of IF conducted with digital assets, pass stablecoin legislation now.

“US security interests are served by centering dollar-denominated stablecoins in the home of the dollar. Reserve management rules, redemption rights and all that aren’t hard to address if we have the will to do more than politic.”

 

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