Former U.S. OCC official: Stablecoins can help the U.S. dollar maintain its status as the world's reserve currency

Odaily Planet Daily News Brian Brooks and Charles Calomiris, former officials of the U.S. Office of the Comptroller of the Currency (OCC), said that stablecoins can be a tool to help the U.S. dollar maintain its status as a reserve currency. Brooks and Calomiris argue that regulation is a necessary condition for the development of these tools. They referred to the bill supported by House Financial Services Committee Chairman Patrick McHenry as an important part of bringing stablecoins to mainstream levels. The pair also said that stablecoins could be an important tool in the fight against global de-dollarization, acting as a catalyst for demand for dollars by citizens in developing countries, even if those governments do not themselves support dollarization. (Bitcoin.com)