Anchorage Digital, a bank that provides crypto asset custody services and is federally authorized, announced that it will advise its institutional clients to liquidate stablecoins such as USDC, Agora USD (AUSD), and Usual USD (USD0), and instead transition to the use of Global Dollar (USDG).

This decision has brought about significant debates in the crypto sector.

Anchorage evaluated stablecoins according to criteria such as regulatory oversight and reserve asset management in its report titled "Stablecoin Security Matrix" to support this decision.

Rachel Anderika, the Head of Operations at Anchorage Global, stated in her announcement, "USDC, AUSD, and USD0 no longer meet Anchorage Digital's long-term resilience criteria," justifying this decision. Anderika pointed out that there is a concentration risk in the issuance structures behind these assets and that this situation should be taken into account by institutional investors.

Anderika stated that Anchorage will henceforth only support stablecoins that are "compatible with transparency, independence, security, and future regulatory expectations."

The decision comes at a time when competition in the stablecoin market is rapidly increasing. The recently passed GENIUS Act in the U.S. Senate aims to establish clear rules for stablecoin issuers. White House crypto advisor David Sacks stated that the bill could become law after passing through the House of Representatives in July. #HotTopicDiscussion#