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Fed’s Brainard: I see potential for a complementary digital dollar

  • I see the potential for a digital dollar as complementary to a more efficient system that would include stablecoins
  • Fragmentation of the payment system is expensive

Either the United States will eventually launch its own stablecoin and regulate Tether’s shutdown, or it will regulate Tether so heavily that it’s practically the same thing. Ultimately, the US government will want to control payments and technology.

Given the UST debacle, the window is open for a crackdown.

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