Global #US dollar

Tether, the issuer of the world's most popular stablecoin USDT, has come under scrutiny from European regulators. The controversy stems from Tether's continued issuance of large amounts of USDT – reportedly over 1 billion tokens every month.

Bitcoin, the dominant cryptocurrency globally, has yet to reach its previous record highs despite a period of relative stability in the market. A novel explanation for this challenge has emerged from crypto research firm 10x Research. They suggest that a decline in the creation of stablecoins is a significant contributing factor.

Recent reports indicate that the Central Bank of the UAE has given the green light to a new regulation governing the licensing and supervision of stablecoins. Additionally, a set of policies to bolster the banking, insurance, and financial services sectors has been approved.

The growth of stablecoins, which are cryptocurrencies pegged to the US dollar, played a significant role in the first quarter's crypto bull market but has stalled since the Bitcoin blockchain's mining reward halving on April 20.

The Tron price is showing momentum as it surpasses the resistance level of $0.1220 against the US Dollar.

According to recent findings by Visa and data platform Allium Labs, less than 10% of stablecoin transaction volumes are deemed organic or originating from genuine individuals.