Reported 2 days ago
The market capitalization of stablecoins has soared to a new high of $251.7 billion, a 22% increase this year, following the U.S. Senate's approval of a bill to regulate the sector. This legislation marks a significant step for stablecoins, which are cryptocurrencies designed to maintain a stable value by pegging them to the U.S. dollar. Analysts project further growth in the market as the bill proposes requirements for backing stablecoins with liquid assets and mandates transparency in reserve disclosures.
Source: YAHOO