<\/p>\n
The largest US dollar-pegged stablecoin by market cap is surging to new heights as talk of crypto regulation in the US ramps up.<\/p>\n
Earlier today, Tether (USDT<\/a>) reached an all-time high market cap of over $85.9 billion, helping to retain its spot as the largest stablecoin on the market, ahead of Circle\u2019s USDC<\/a> and MakerDAO\u2019s Dai (DAI<\/a>).<\/p>\n Meanwhile, Federal Reserve Vice Chair for Supervision Michael Barr is\u00a0calling<\/a>\u00a0for stronger stablecoin regulation in the United States.<\/p>\n According to a report from Fortune, Barr called for stablecoin oversight during a speech at D.C. Fintech Week.<\/p>\n Barr is reportedly concerned about \u201cthe proliferation of private money backed by the US dollar without regulation.\u201d He says the Federal Reserve has a \u201cvery strong interest\u201d in federal regulation that would allow it to approve and supervise stablecoin issuers.<\/p>\n Barr also said that the stablecoin space should be \u201cwell-regulated\u201d to avoid potential risks to financial stability, and because the industry \u201c<\/span>borrows the trust of the Federal Reserve in its issuance.\u201d<\/p>\n Barr\u2019s calls for regulation are hot on the heels of Wyoming Senator Cynthia Lummis\u2019\u00a0calls<\/a>\u00a0to pass crypto regulations by early next year.<\/p>\n \u201cI think the SEC is overreaching\u2026 We\u2019re crying out for a clear regulatory framework here.\u201d<\/em><\/p>\n Don’t Miss a Beat \u2013 Subscribe<\/a> to get email alerts delivered directly to your inbox <\/span><\/em>
\n
\nCheck Price Action<\/a><\/span><\/em>
\n
\nFollow us on Twitter<\/a>, Facebook<\/a> and Telegram<\/a><\/span><\/em>
\n
\nSurf The Daily Hodl Mix<\/a><\/span><\/em>
\n<\/p>\n