US Govt Gives Banks the go Ahead to Transact w/ Stablecoins. Altcoins Pump as BTC Consolidates

By Aware1 | Crypto Awareness | 10 Jan 2021

The crypto market got some positive regulatory news this week as the Office of the Currency Comptroller released a statement granting banks the ability to transact in stablecoins and utilize the technology they are built on in a similar way that they use the SWIFT and FedWire system.

This announcement opens the door for a flood of new money to come into the cryptocurrency sector as more and more members of the general public will become exposed to blockchain technology and realized the benefits it offers.

Some of the USDC related projects that stand to benefit from this recent development include Ethereum (ETH), Algorand (ALGO), Stellar (XLM), and Solana (SOL), as well as the stablecoin economy governance tokens Maker (MKR) and Reserve Rights (RSR).

Following Bitcoin's recent price rise above $40,000, it appears to be in a brief consolidation period as bulls test resistance levels. As often happens after such a BTC move, some profits have made their way into the altcoin market and prices have started moving across the board.

Cryptocurrency Blockchain Ethereum (ETH) Bull Market Stablecoins

How do you rate this article?

Aware1

My saying is "It's not about what you do, it's about being aware of what you do." My journey has been filled with ups and downs, positives and negatives, but the experience has been fantastic. Now I look to help others find the joy in their journey.

Crypto Awareness

I discuss a variety of topics from across the crypto-verse, pointing to some developing trends that I see on the long term horizon. With so much news and FUD out there, it can be difficult to know what is actually going on with the cryptocurrency space and where the major developments are taking place. I hope to simplify this process for people as well as add my perspective on where things are and where things may possibly go.