In the future, the crypto industry will likely shift to non-dollar stablecoins, reducing its reliance on US dollar-based stablecoins. Binance CEO Changpeng Zhao has argued that the US government’s recent actions against US dollar stablecoins will force the global crypto industry to rely on other currencies to back stablecoins, such as the Euro, Yen, and Singapore Dollar.
Although algorithmic stablecoins may play a larger role in the crypto ecosystem, they must be disclosed to users in a transparent manner, and reserves for fiat-backed stablecoins must also be disclosed.
Binance CEO: crypto industry will probably move to non-dollar stablecoins
