Circle VP: U.S. May Lag Behind the World in Stablecoin Regulation
The U.S. may be lagging behind other major regions around the world in stablecoin regulation at the federal level, Circle Vice President Yam Ki Chan said at Korean Blockchain Week, Decrypt reports.
Compared to the EU MiCA rules and Hong Kong's stablecoin framework, the U.S. has yet to establish a unified regulatory approach at the national level. Currently, U.S. states continue to regulate stablecoins primarily based on existing money transmission laws, leading to regulatory fragmentation. While the Payment Stablecoin Clarity Act of 2023 has passed through a House committee, it is still subject to further legislative processes.Chan emphasized the need to upgrade the regulatory framework in the U.S. and believes that the upcoming election could be an opportunity to reshape the cryptocurrency policy discussion.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Cointel Secures $7.4 Million in Strategic Funding Led by Avalanche and Sugafam Inc
99,999,995 USDT Transferred from an Exchange to an Unknown Wallet

Data: USDC Treasury burns approximately 74.4 million USDC on the Solana network
Trending news
MoreCrypto prices
More








