The post Rumors Emerge About Cryptocurrencies Related to an Institution at the Heart of the US Financial System appeared on BitcoinEthereumNews.com.

DTCC (Depository Trust and Clearing Corporation), a major financial institution at the heart of the US financial system, is working on the issuance of stablecoins. According to information reported by The Information, this step by DTCC could pave the way for more widespread use of digital assets in markets. On the other hand, the CEO of Bank of America also announced that the bank is working on stablecoin projects both on its own and with the sector. These developments show that the US financial system’s interest in the digital dollar is increasing. US Treasury Secretary Scott Bessent said in his statements to Congress that stablecoins could reinforce the dollar’s status as a global reserve currency. Bessent stated that the total market value of dollar-backed stablecoins could exceed $2 trillion. “Although the dollar’s global leadership is occasionally questioned, new dynamics reaffirm this power each time,” Bessent said, adding that the current administration is determined to protect and strengthen the dollar’s reserve currency status. There is also a bill in Congress that would require dollar-denominated stablecoins to be backed by high-quality assets such as Treasury bonds. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/rumors-emerge-about-cryptocurrencies-related-to-an-institution-at-the-heart-of-the-us-financial-system/

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Filed under: News - @ June 12, 2025 11:26 pm