Circle VP Warns US Risks Falling Behind in Stablecoin Regulation Amid Political Stalemate

Quick Summary:

"What's important is for the U.S.to upgrade and have a structure to define what a well-regulated stablecoin looks like," Circle's VP said.

Decrypt’s Art, Fashion, and Entertainment Hub.The U.S.risks lagging in stablecoin regulation at the federal level amid competing jurisdictions worldwide, even as the Republican and Democrat parties work to establish clearer rules for the sector.

It's also important for the regulators to have some kind of visibility in the market, he added, stressing that while it was essential to “push the limit” in terms of innovation, it was also important not to get too far ahead of the rules.“That's a very, very tough thing,” Chan said.

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Article Details

Author / Journalist: Sebastian Sinclair

Category: Crypto

Markets: EstoniaHong Kong

Topics: Law Regulation Circle Stablecoins US Elections Law and Order Us 2024 elections

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-05 @ 05:56:06 (16 hours ago)

News Timezone: GMT +8:00

News Source URL: decrypt.co

Language: English

Article Length: 681 words

Reading Time: 4 minutes read

Sentences: 16 lines

Sentence Length: 43 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Decrypt

News ID: 22373182

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