The absence of stablescoin regulations in the United States is one of the main obstacles to adoption, said S&P Global Ratings in a Wednesday report.
“The absence of regulations is one of the main obstacles to the adoption of stables in the United States and has prevented a broader institutional adoption of the stablecoins,” the analysts led by Mohamed Damak wrote.
S&P said that it expects adoption to increase the payment in place once.
Stablecoins are cryptocurrencies whose value is linked to another asset, such as US dollar or gold. They play a major role in the cryptocurrency markets and are also used to transfer money internationally.
New rules are coming. The law on the orientation and establishment of national innovation of the Senate for the Act on Stablescoins (Engineering) obliges federal regulations for stablescoins with a market capitalization of more than $ 10 billion with the potential for regulating The state if it aligns with federal rules. The stable law of the House of Representatives provides for state regulations without any condition.
Some users should pass unregulated stablecoins at once a framework is in place, depending on the report, and this could change the industry’s landscape.
“Stablecoins will play an increasingly important role in chain transactions,” wrote the authors, protecting user savings against “local monetary instability in emerging markets” or to receive payments.
The Wall Street JPMorgan (JPM) bank said that Tether, which issues a USDT market leader, could face challenges in the United States, in a report last week.
Read more: Tether may have to sell some bitcoin to comply with the American stablecoin rules: JPMorgan
