Jun. 23 at 1:24 PM
$CRCL https://www.barrons.com/articles/cryptocurrency-digital-dollar-stablecoin-congress-46c113c0?mod=bar_FV
This Barron’s article is basically saying that Congress is choosing private companies like Circle to build America’s digital-dollar infrastructure rather than the Federal Reserve. For years, one of the concerns surrounding Circle was, What happens if the Fed launches its own digital dollar? A congressional ban substantially lowers that risk, making Circle’s future business model appear more secure. A ban on a Federal Reserve-issued digital dollar (called a Central Bank Digital Currency or CBDC) helps Circle Internet Group because it removes what could have been its most powerful competitor: the U.S. government. By preventing the Fed from issuing a CBDC, Congress is effectively saying that the private sector -not the government—will lead the digital-dollar market for now. That allows More adoption of USDC and More transaction volume flowing through Circle’s network.
