America, use bitcoin instead of old-school money? Not likely, says Fed
Federal Reserve Vice Chair for Supervision Michael Barr says crypto-assets are"unlikely to grow into money substitutes" because they have proven to be so volatile and posed"novel" risks.
Stablecoins can be pegged to a currency or a commodity, like gold, although most currency linked ones are tied to the dollar, such as Tether, the world's largest stablecoin, with a market capitalization of more than $68 billion at the time of writing.
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