Tether CEO Paolo Aldoino has it I expressed excitement About the much-deceased Stablecoin bill that passed the US Senate Banking Committee early today.
Aldoino told Bloomberg today that the bill would “unlock” a lot of clarity for Stubcoin. “As you know, we’re very excited because Tether is the company that created the Stablecoin industry in 2014. We published our first Stablecoin.
The so-called genius law, which aims to establish a regulatory framework at the federal level, is currently aiming to vote in the Senate.
In particular, several Democrats, including Arizona’s Reuben Gallego, joined the Republicans, supporting the High-Access Days Bill. But Elizabeth Warren, a leading Democrat known for her anti-cryptic stance, is vehemently opposed the bill.
“The massive movement in Washington today… this is a big step towards providing regulatory clarity for stubcoin, and a big step towards making the dollar more competitive.”
Ripple CEO Brad Garlinghouse also commented on the latest developments, claiming that the “Stablecoin Policy” is ongoing. The Enterprise Blockchain Company launched its own regulated Stablecoin in December.
With a market capitalization of $143 billion, Tether (USDT) remains an indisputable leader in the Stablecoin space. Circle (USDC) is in the distant second place at $58 billion. The recently released Ripple USD (RLUSD) currently has a market capitalization of just $134 million.
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