No products in the cart.
- Latest
- Trending
ADVERTISEMENT
Stablecoins are likely to be the first to be regulated in the United States in 2023, according to Katherine Dowling, legal counsel and chief compliance officer at crypto investment firm Bitwise.
so interview Speaking on CoinDesk TV on Monday, Dowling said a move toward stablecoin legislation this year is more likely because the sub-industry represents a less complex sector. teeth”narrower problem,” she said.
crypto media outletsstarterBitwise’s compliance officer said regulators could easily see issues related to stablecoins as “a little better” than what the broader crypto market represents.
The events of the past few months and while their effects continue to be felt across cryptocurrencies (including the collapse of FTX) have derailed the sector. But with the regulatory spotlight on the broader industry, the aftermath could have provided a platform for rebuilding.
According to Dowling, the question of proper legislation is a product that Congress is working hard on.
We also need clarity on the legislation, not just for the stablecoin market, but for the broader digital asset space. This, along with clear rules that are key to the US plan to keep up with the global regulatory environment, will help rebuild trust within and across the ecosystem.
While some experts have warned about the potential impact of regulation on cryptocurrency innovation, Dowling said it is important to have legislation in place. For the US, this could even become a global regulatory standard, a scenario that will likely provide a basis for dialogue on crypto regulation on a global level.
As reported last week, the European Union is about to finally ratify its comprehensive crypto regulation, Markets in Crypto-Assets (MiCA). A final vote on the regulation was recently postponed to April.
