Former Binance.US CEO and an ex-acting US Comptroller of the Currency Brian Brooks has commented on the ongoing discourse regarding stablecoin regulation in the US.
In an interview with CNBC on Friday, August 11, Brooks, now a partner at Valor Capital Group, took a stance against stablecoins opposition in the US government, saying that a proper regulatory framework for these assets could boost the relevance of the US dollar worldwide.
US Dollar Can Benefit From High Stablecoin Demand, Brooks Says
Stablecoins are a type of cryptocurrency with values pegged to a fiat currency, mostly the US dollar, or a commodity such as gold, oil, etc.
According to Brooks, nations with high inflation rates have a buoyant demand for dollar-backed assets such as stablecoins as citizens look to preserve the value of their investments and earnings.
The former acting US Comptroller of the Currency believes if the US government forms a system that oversees the use of the dollar as a reserve currency for
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