TechFlow news, on February 7, according to Cointelegraph, Federal Reserve Governor Christopher Waller said in an interview with the Atlantic Council think tank that he supports the development of stablecoins under clear rules and regulations, believing it will help solidify the U.S. dollar's status as the world's primary reserve currency. Waller pointed out that stablecoins will expand the global reach of the dollar and make it a more significant reserve currency than it is today. Data shows that the U.S. dollar currently accounts for over 99% of the stablecoin market, with the largest stablecoin, USDT, making up nearly 80% of stablecoin trading volume. Meanwhile, U.S. Senator Bill Hagerty introduced the GENIUS Stablecoin Act on February 4, aiming to create a regulatory framework for high-market-cap dollar-pegged crypto tokens.
