U.S. Treasury Department: CBDC should replace stablecoins
According to a report released by the U.S. Treasury Department on Wednesday, the department is concerned about the growth of the stablecoin market and believes that privately issued stablecoins should ultimately be replaced by central bank digital currencies (CBDCs) supported by the state. The report, written by the U.S. Treasury Department's Office of Debt Management, stated: "Similar to how private 'wildcat' currencies issued in late 19th century were replaced with government-backed central bank money, Central Bank Digital Currencies (CBDCs) may need to replace stablecoins as the primary form of digital currency underpinning tokenized transactions."
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Continuing Jobless Claims in the US Rise to 1.972 Million, Exceeding Expectations

Chainlink Achieves ISO 27001 and SOC2 Compliance Certification
Fed’s Bostic: Markets Will Provide Key Decision Clarity by Year-End
Trending news
MoreCrypto prices
More








