The USA discusses stablecoins, and a famous TV presenter announces an increase in his assets in ETH

Expert: USA is obliged to embed stablecoins into the financial system

Fed Deputy Chairman Randall Quarls expressed the opinion that the US authorities need to study the work of stablecoins. The official believes the government must find a way to make cryptocurrencies part of the financial system.

“When our concerns have been addressed, we should be saying yes to these products, rather than straining to find ways to say no. Indeed, the combination of imminent improvements in the existing payments system such as various instant payments initiatives combined with the cross-border efficiency of properly structured stablecoins could well make superfluous any effort to develop a CBDC,” the deputy chairman of the US Federal Reserve said.

Meanwhile, Quarl’s statement contrasts with a recent statement by Boston Federal Reserve Bank chief Eric Rosengren. He named the USDT stablecoin as one of the “financial stability problems” that the American regulator is watching.

Famous TV presenter announced an increase in his assets in ETH

TV host, former Cramer & Co. hedge fund manager Jim Kramer talked about building up his own savings in Ethereum. According to him, this was due to the positive dynamics of the BTC rate. Bitcoin is up 13.51% in the past 24 hours, according to data from Coinmarketcap.

“I returned to Ethereum because bitcoin held above $ 30'000. I like Ethereum because people actually use it a lot more when they buy NFT or something like that. I will continue to buy Ethereum, ”said Kramer.

The TV presenter reduced his ETH assets in mid-May this year. This happened after the second most popular cryptocurrency updated its all-time high to the level of $4,350.