US Federal Reserve Governor Stephen Miran stated that the demand for US dollar-tied stablecoins could lower interest rates. The total market cap for stablecoins is $310.7 million, with potential growth to $3 trillion in five years. International organizations warn that stablecoins could compete with traditional financial assets. Regulation like the GENIUS Act is seen as essential for the broader adoption of stablecoins. The Act requires US issuers to hold reserves backed by US dollar assets.

Read more at Cointelegraph: Fed’s Miran Says Stablecoins May Help Lower Interest Rates