.kbdow, general counsel and chief compliance officer BitwiseInvest says Congress may establish stablecoin regulations this year because it's a “narrower issue' than the broader crypto market. _franvela reports
Stablecoins may be the first piece of crypto-related legislation that Congress will tackle this term, Katherine Dowling, chief compliance officer at crypto investment manager Bitwise, said Monday, in part because it is"narrower issue."
“It’s something you can get your arms around a little bit better than the larger meteor issue of general crypto market structure,” Dowling said on CoinDesk TV’s “She said the crypto industry lost momentum following the collapse of crypto exchange FTX, but it may finally be at a place where it can rebuild its stamina.“Having some clear rules of the road and rebuilding trust is going to be imperative,” Dowling said.
“If we start with our regulatory foundations, we can then increase the dialogue so that we make sure that on a global level, everyone's part of the conversation,” she said. If rules of the road aren't implemented in the U.S., it will push businesses and innovators offshore, she said. “Regardless of whether you are pro or con on crypto … there's a sense among a number of members of Congress that something must be done,” she said.
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