Cointime

Cointime

Download App
iOS & Android
Home / Point

Morgan Stanley Anticipates Stablecoins to Back the USD Amidst De-Dollarization Concerns; EU and China Intensify Risks

Morgan Stanley predicts that stablecoins pegged to the US dollar will support the currency amid concerns of de-dollarization. The financial institution highlights the challenges facing the USD due to the rise of digital currencies and the global efforts to promote de-dollarization. The report notes that stablecoins could have a profound impact on the financial sector and reshape how money is moved across borders, potentially reinforcing the US dollar as the dominant global currency. Morgan Stanley also suggests that stablecoins would not challenge the USD's dominance but could be a critical catalyst in significantly altering the landscape of global finance.

stablecoin
Comments

All Comments

Recommended for you

  • CryptoPunks Launches “Super Punk World” Digital Avatar Series

    Blue-chip NFT project CryptoPunks announced the launch of "Super Punk World" on X platform, which is the project's first release of 500 digital avatars inspired by the iconic CryptoPunks features and combined with Super Cool World attributes. It is reported that the series may launch auctions in the future, and more details about the collection and auction of this series will be announced soon.

  • Drift Foundation: The governance mechanism is gradually being improved, and DRIFT is one of the components

    The Drift Foundation stated on the X platform that the DRIFT token is a component of governance and a key element in empowering the community to shape the future. The governance mechanism is gradually improving, and more information will be announced soon.

  • U.S. senators propose spending $32 billion to develop AI and build safeguards around it

    A bipartisan group of four senators led by Chuck Schumer, the leader of the majority party in the United States, has proposed that Congress spend at least $32 billion over the next three years to develop artificial intelligence (AI) and establish safeguards around it.

  • CryptoQuant: Bitcoin demand is now in acceleration mode again after two months of decline

    On May 16th, cryptocurrency analysis company CryptoQuant stated in a report that despite a rebound in Bitcoin demand from the low point of the accumulation range, after two months of downward trend, Bitcoin demand is once again in "acceleration mode".

  • Fed's Schmid: Low interest rate environment "may not necessarily" return

    The Federal Reserve's Schmid said that the overall economy is still strong. Inflation is still too high, and the Federal Reserve has more work to do. Interest rates may remain high for a period of time, and I prefer to reduce the Federal Reserve's balance sheet as much as possible under the premise of compliance with the operating framework. The low interest rate environment may "not necessarily" return.

  • a16z partner: Americans have accepted digital assets, but current regulatory approaches limit innovation and privacy

    Web3 supporter and a16z partner Chris Dixon (cdixon.eth) posted on social media that in the next two weeks, the House of Representatives will vote on the most important crypto legislation to date, the "21st Century Financial Innovation and Technology Act" (FIT21). We have long called for clear regulation to protect consumers and innovation, and the FIT21 bill will achieve this.

  • Tether CEO: Ripple CEO's comments spread fear about USDT

    According to reports, Tether CEO Paolo Ardoino responded to comments made by Ripple CEO Brad Garlinghouse in a recent interview about the stablecoin Tether (USDT) on social media. Garlinghouse stated in the interview that the US government is pursuing Tether, which is clear to me. Ardoino said that an uninformed CEO leading a company under SEC investigation launched a competitive stablecoin (cui prodest), spreading fear about USDT. Ardoino emphasized Tether's critical role in providing financial services to unbanked communities in emerging and developing regions, which are often overlooked by traditional financial institutions. He further asserted that Tether adheres to strict transparency and regulatory compliance standards, as evidenced by its compliance with the OFAC/SDN list, its partnership with Chainalysis, and its extensive collaboration with international law enforcement agencies to detect and prevent illegal activities, thereby enhancing the security of its ecosystem.

  • Swiss Crypto Bank Amina: Listing Ethereum as a Security Could Cause Many Crypto Teams to Exit the Space

    Swiss encrypted bank Amina stated in the latest "Cryptocurrency Market Monitoring" report that classifying Ethereum as a security could not only bring risks to the entire cryptocurrency market, but also lead to many cryptocurrency teams exiting the field. This determination could hinder the development of the cryptocurrency market and potentially reverse progress made over the years. In addition, the US SEC is likely to delay its decision on the status of Ethereum, putting the cryptocurrency asset in a "gray area".

  • New Stablecoin Bill Introduced in US Senate to Regulate Dollar-Pegged Digital Assets

    Senators Cynthia Lummis and Kirsten Gillibrand have proposed a new bill that aims to establish definitions for dollar-pegged digital assets and their issuers. The bill mandates that payment stablecoin issuers meet reserve and operational requirements, including creating subsidiaries specifically for issuing stablecoins. Additionally, stablecoin issuers must deal in dollar-backed tokens and ensure their tokens are fully backed by reserve assets. The proposed legislation seeks to define how stablecoins will operate in the US and would prohibit algorithmic stablecoins. There are ongoing discussions about attaching stablecoin legislation to a must-pass bill reauthorizing the Federal Aviation Administration, and Senator Sherrod Brown has indicated that specific safeguards must be included for the legislation to move forward.

  • UK to Issue New Legislation for Stablecoins and Crypto Activities by June/July, says Economic Secretary

    The U.K. government plans to introduce new legislation for stablecoins, as well as for crypto staking, exchange, and custody by June or July of this year. Economic Secretary Bim Afolami announced this at the Innovate Finance Global Summit on Monday, stating that the government aims to make the U.K. a global hub for crypto. The legislation will bring a range of crypto asset activities within the regulatory perimeter for the first time. The U.K. passed a financial markets bill in 2023, laying the foundation for regulated financial activities in the country, and the government has consulted with local regulators on its ambitions to regulate crypto.

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company