Paxos CEO: Regulation is Key to Mainstream Stablecoin Adoption
Cointelegraph news, Paxos CEO Charles Cascarilla believes that stablecoins need to be reliably regulated and achieve mainstream adoption, not just be a tool for crypto enthusiasts. Stablecoins will not be able to build the trust without regulation, which is critical to attracting interest outside of the crypto community. Stablecoins open up a new way to transfer money, but in the long run, cannot change the financial system without regulation. Addressing regulators’ concerns about stablecoin money laundering he added that stablecoins are public, pseudo-anonymous and flow in quantities that are well known and fully auditable, and that the number one currency used for money laundering should be the US dollar.