Denelle Dixon, CEO of the Stellar Development Foundation, has warned that the US and its currency, the dollar, may face adverse consequences if stablecoin regulations are not put in place this year. Dixon has expressed her optimism in a Bloomberg interview, saying that she expects some form of stablecoin regulation to be implemented by the end of the year to set the standard. She stressed that the focus should be more on the utility and value to users rather than on the technology stack.
Dixon warned that if the US doesn’t regulate stablecoins, it will be in a bifurcated world where companies will seek more favorable crypto legislation outside the US, leaving US consumers behind. Currently, stablecoins make up approximately 10.5% of the total cryptocurrency market capitalization, amounting to $133 billion in circulation.
