Stellar CEO Believes Stablecoin Legalization Will Strengthen Dollar Position in the World
In an interview with Bloomberg, Denelle Dixon, CEO of the Stellar Development Foundation, has expressed her view that the US authorities can maintain the dollar’s dominant position in the world by implementing a regulatory framework for stablecoins.
She has added that Washington’s rigorous regulation of the blockchain industry not only drives crypto businesses to other countries, but also contributes to weakening the dollar’s global standing.
According to Dixon, if the US takes a reasonable approach and legalizes tokens backed by US currency, it will be able to demonstrate its status as both a technological and financial power.
She has highlighted that stablecoins comprise 10.5% of the crypto market capitalization ($133 billion), and it is vital to regulate these tokens in the US, as most are pegged to the dollar.
