{"id":74126,"date":"2023-02-15T12:56:00","date_gmt":"2023-02-15T10:56:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=74126"},"modified":"2025-09-09T18:17:49","modified_gmt":"2025-09-09T15:17:49","slug":"changpeng-zhao-forecasts-expansion-of-non-dollar-stablecoins","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/changpeng-zhao-forecasts-expansion-of-non-dollar-stablecoins\/","title":{"rendered":"Changpeng Zhao forecasts expansion of non-dollar stablecoins"},"content":{"rendered":"<p>Rising regulatory scrutiny in the United States underscores growing demand for \u00ab<a href=\"https:\/\/forklog.com\/en\/news\/what-are-stablecoins\">stablecoins<\/a>\u00bb not pegged to the U.S. dollar, <a href='https:\/\/twitter.com\/i\/spaces\/1eaJbrRvdlkJX'>said<\/a> Binance CEO Changpeng Zhao (CZ).<\/p>\n<p>According to the executive, the industry could begin looking for \u201cother options\u201d for stablecoins. In the future, \u201clikely,\u201d the role of euro-, yen-, Singapore dollar-denominated tokens and other currencies will grow.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u201cGiven the pressure and regulators&#8217; stance on USD-denominated stablecoins, this effectively prompted us to seek more options in different places\u201d<\/em>, he explained.<\/p>\n<\/blockquote>\n<p>CZ also agreed that it makes sense to use gold-backed stablecoins. He explained that most people&#8217;s spending remains denominated in fiat currencies.<\/p>\n<p>Zhao <a href=\"https:\/\/forklog.com\/en\/news\/what-are-algorithmic-stablecoins\">algorithmic stablecoins<\/a> will gain prominence, which will carry risks.<\/p>\n<p>According to CZ, both the vulnerabilities of algorithmic <a href=\"https:\/\/forklog.com\/en\/news\/what-are-algorithmic-stablecoins\">stablecoins<\/a> and those backed by reserve currencies should be disclosed. This is necessary so that users clearly understand what is happening and make their own decisions about what to favor.<\/p>\n<p>Zhao noted that dollar-based \u201cstablecoins\u201d remain important, as most people measure the returns on their investments in USD.<\/p>\n<p>The <a href=\"https:\/\/forklog.com\/en\/news\/bloomberg-new-york-regulator-opens-investigation-into-paxos\">investigation<\/a> by the New York State Department of Financial Services into Paxos has begun. Later the regulator ordered the firm to halt the Binance USD (BUSD) stablecoin. The <a href=\"https:\/\/forklog.com\/en\/news\/sec-warns-paxos-of-enforcement-action-reports-say\"><span data-descr='U.S. Securities and Exchange Commission' class='old_tooltip'>SEC<\/span><\/a> likewise said it was prepared to sue Paxos.<\/p>\n<p>Zhao <a href=\"https:\/\/forklog.com\/en\/news\/binance-ceo-identifies-favorable-countries-for-bitcoin-business\">advised<\/a> crypto entrepreneurs to consider relocating to a country with favorable regulation for the industry. He regards Dubai (UAE), Bahrain and France as such jurisdictions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rising regulatory scrutiny in the United States underscores growing demand for stablecoins not pegged to the U.S. dollar, Binance CEO Changpeng Zhao (CZ) said.<\/p>\n","protected":false},"author":1,"featured_media":74127,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1625,935,807],"class_list":["post-74126","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance-usd-busd","tag-changpeng-zhao","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=74126"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74126\/revisions"}],"predecessor-version":[{"id":74128,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/74126\/revisions\/74128"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/74127"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=74126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=74126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=74126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}