Regulated stablecoins are currently in the spotlight of policymakers as a panel of professionals in the digital regulatory space unpacks their predictions on the use of regulated stablecoins in the future at the World of Web (WOW) Summit in Hong Kong.
In the panel titled “Digital Assets: Policies & the Road Ahead,” the group discussed how regulated stablecoins would most likely remain in use by 2030 and how the current growth rate of the stablecoin helps to ensure this.
While recognizing the growth of the crypto industry, Alexandra Sasha, the 1st Deputy to the Danish Parliament and an advocate for blockchain technology and innovation noted that the regulated stablecoins will definitely grow stronger. Alexandra went on to say that despite the wide acceptance of regulated stablecoins, there are still in existence two forms of need in the digital currency space.
In her statement, Alexandra said, “So I think there’s still two forms of need because you will have people who will want to centralize the digital era and you will always have the people who do want this decentralized way of using payments, of course, unless it gets banned, but I do not think that’s the goal of anyone.”
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With respect to the wide acceptance of regulated stablecoins by 2030, Kelvin Lester Lee, a Commissioner of the Securities Exchange Commission to the Philippines, stated that he isn’t so sure whether or not regulated digital assets would be thriving by then, but it would definitely still be present and might also look different.
While rounding up, Douglas Arner, a professor working in areas of interconnection between finance and technology regulation at the University of Hong Kong, added that this entire decade would be a competition between centralized approaches and decentralized approaches. According to Douglas, the competition applies just as much in the context of the metaverse as it does in the context of the crypto ecosystem, and by the end of the decade, there would be a spectrum of different structures where there’s a high likelihood that regulated stable coins will emerge as the most widely used monetary instrument embedded in blockchain applications.
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