Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Federal Reserve's Barr expresses concerns over Bitcoin-backed stablecoins

Federal Reserve's Barr expresses concerns over Bitcoin-backed stablecoins

金色财经2025/10/20 23:01
BTC-0.27%

Jinse Finance reported that Federal Reserve Governor Michael Barr expressed concerns that under the newly passed GENIUS Act, stablecoins might use bitcoin as a reserve asset, which could threaten the stability of these digital payment tools. Barr acknowledged the potential advantages of stablecoins in international remittances, cross-border trade, and corporate financial management, but emphasized that there are significant regulatory loopholes under current frameworks. Although the GENIUS Act does not directly support bitcoin as a reserve, it allows holding "any medium of exchange authorized or adopted by a foreign government" as a reserve asset. Barr pointed out that El Salvador once adopted bitcoin as legal tender and still allows voluntary transactions, so issuers might argue that bitcoin buybacks could qualify as eligible reserve assets for stablecoins.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Trending news

More
1
Data: Yesterday, HODL had a net inflow of $21.2 million, and BITB had a net inflow of $12.1 million.
2
Data: Andrew Kang significantly increased BTC and ETH short positions, with an unrealized loss of $605,000 in the account

Crypto prices

More
Bitcoin
Bitcoin
BTC
$110,294.34
+2.10%
Ethereum
Ethereum
ETH
$3,964.5
+0.45%
Tether USDt
Tether USDt
USDT
$1
-0.01%
BNB
BNB
BNB
$1,097.44
-0.46%
XRP
XRP
XRP
$2.48
+4.45%
Solana
Solana
SOL
$188.32
+1.53%
USDC
USDC
USDC
$1
-0.00%
TRON
TRON
TRX
$0.3224
+0.43%
Dogecoin
Dogecoin
DOGE
$0.1991
+2.47%
Cardano
Cardano
ADA
$0.6611
+2.25%
How to sell PI
Bitget lists PI – Buy or sell PI quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter