On August 13th, former Acting Comptroller of the Currency (OCC) Brian Brooks stated that clear regulation of stablecoins would be beneficial for the adoption of the US dollar globally, although some US lawmakers believe it could be harmful to the financial system and economy. He pointed out that if the US government could create a framework that allows the US dollar to support stablecoins in a regulated way, the demand for this would flourish, which would be beneficial for the global adoption of the US dollar. The demand for US dollar stablecoins is a major driving factor for countries experiencing high inflation. At a time when governments around the world are hoping to decouple from the US dollar, the demand for stablecoins is a way for the US dollar to once again play a role.
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Former OCC Acting Director: Stablecoin regulation is conducive to the global adoption of the US dollar
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