Former U.S. OCC Official: Stablecoins Can Be a Tool To Help the U.S. Dollar Maintain Its Reserve Currency Status

2023/08/12 07:00

Former officials of the US Office of the Comptroller of the Currency (OCC), Brian Brooks and Charles Calomiris, stated that stablecoins can become a tool to help the US dollar maintain its reserve currency status. Brooks and Calomiris called for regulations that allow stablecoin issuers to clearly state the assets needed for prosperity. Stablecoins can become an important tool to counter global de-dollarization and become a catalyst for citizens of developing countries to demand dollars, even if their governments do not support dollarization.
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