TechFlow news — Morgan Stanley stated in a recent research report that the U.S. Treasury and Congress are preparing to regulate stablecoins or their issuers, with oversight potentially resembling that of traditional banking regulation.
The report also noted that U.S. authorities recognize monetary competition from other countries' CBDCs and believe urgent action is needed to ensure the dollar remains the preferred and dominant payment mechanism. Controlling dollar-denominated stablecoins would be a key strategy, which could have profound implications for the crypto market.
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