Cryptocurrency legislation is on the rise, what the proposed stablecoin bill means

特邀专栏作者

2020-12-14 15:54 (UTC+8)

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Collaboration, collaboration and education with lawmakers and the business community at large will be a central theme for Blockchain and Crypto Industry Advocate 2021.

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Collaboration, collaboration and education with lawmakers and the business community at large will be a central theme for Blockchain and Crypto Industry Advocate 2021.

Editor's Note: This article comes fromMengyan Finance (ID: Meng-eyes), reprinted by Odaily with authorization.

Editor's Note: This article comes from

Mengyan Finance (ID: Meng-eyes)

The proposed regulation could fundamentally change the stablecoin ecosystem, so it’s worth seeing what exactly this proposed legislation includes.

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Price should not be the point. The drafting of the legislation was driven, at least in part, by the rapid rise in cryptocurrency prices in 2020. Especially in the current environment, where economic and social inequalities have been widened due to COVID-19, focusing on price increases may not always be conducive to wider acceptance and understanding. Instead, focusing on and emphasizing the benefits all users of cryptocurrencies can realize in terms of reduced costs, faster transaction processing, and increased overall transparency should be the focus of crypto advocates.

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