On August 13th, former OCC acting director and Binance US CEO Brian Brooks stated that clear regulation of stablecoins would be beneficial for the adoption of the US dollar globally, despite some US legislators believing it could be harmful to the financial system and economy. "If the US government can create a framework that allows the US dollar to support stablecoins in a regulated way, then the demand for this will flourish, which will be beneficial for the global adoption of the US dollar. But as long as we allow the government to suppress stablecoins, the opposite will happen," Brooks added that the demand for stablecoins is one way to make the US dollar play a role again as governments around the world seek to decouple from the US dollar. "This is indeed a very important policy issue. This has nothing to do with cryptocurrency, but with the role the US plays in the financial system." (The Block)