The head of digital assets research at VanEck, Matthew Sigel, has criticized the US Treasury Department's recent views on digital assets. Sigel argues that the Treasury's stance on stablecoins is based on outdated academic views and promotes a "recycled narrative" that private money is inherently unstable. He suggests that private currencies can be just as reliable as government-issued money when the right checks and balances are in place. Sigel also criticizes the Treasury's comparison between stablecoins and 19th-century wildcat banknotes, stating that modern stablecoins operate in a stable manner in modern financial ecosystems. He calls for broader, global scrutiny and a more inclusive view from US regulators that reflects the realities of the digital global economy.
Tether shifts focus to European, Middle Eastern and African markets in the face of US legal troubles