Binance’s ‘CZ’ says US government actions will probably cause non-dollar stablecoins to be used more in the future.
its reliance on US dollar based stablecoins, according to a Feb. 14 statement on Twitter Spaces by Binance CEO Changpeng Zhao, also known as “CZ.”
CZ gave the statement in answer to a question about the crypto industry using gold as a standard of value instead of the US Dollar. CZ agreed that it “makes sense” to use gold. However, “most people’s costs are still in fiat currencies.” For this reason, most people calculate their investment returns in dollars, which is why US Dollar backed stablecoins are “still important.”
However, CZ argued that the US government’s recent actions against US dollar stablecoins will probably lead the global crypto industry to rely on other currencies such as the Euro, Yen, and Singapore Dollar to back stablecoins, as he explained: “I think given the current pressure and current stances taken by the regulators on the US Dollar based stablecoins, I think that as you said the industry will probably move away to non US dollar based stablecoins[...]as a result of this we probably will see more euro based or other Japanese yen, Singapore dollar based stablecoins, so it's actually prompted us to look for more options in different places.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
How to Increase the Sales of Your Binance P2P Ads | Binance BlogDid you know? As a Binance P2P merchant, you can increase your sales by carefully creating and customising your P2P ads. Here are some tips on how ⤵️
Weiterlesen »
SEC plans to sue crypto firm Paxos over Binance tokenThe Securities and Exchange Commission has told crypto firm Paxos Trust Co. that it plans to sue the company for violating investor protection laws,...
Weiterlesen »
Breaking: Paxos to face SEC lawsuit over Binance USD — ReportThe Securities and Exchange Commission has alleged that Binance USD is an unregistered security, and is planning to sue Paxos over the issuing or listing of the coin.
Weiterlesen »
Breaking: Paxos facing SEC lawsuit over Binance USD — ReportThe Securities and Exchange Commission reportedly plans to sue Paxos over its issuance of Binance USD, alleging that the stablecoin is an unregistered security.
Weiterlesen »