MP from Denmark believes that regulated stablecoins will continue to strengthen
Experts in the field of digital regulation believe that by 2030 all countries will begin to actively use stablecoins. This was discussed at the World of Web3 summit in Hong Kong.
Danish MP Alexandra Sasha noted the growth of the crypto industry. She expressed confidence that regulated stablecoins will strengthen.
“So I think there are still two kinds of need, as there will always be people who want to centralize the digital age, and there will always be people who want to use a decentralized way of making payments, of course, if it is not banned, but I don’t think that this is someone’s goal,” said the MP.
When discussing widespread adoption of regulated stablecoins over the course of the current decade, Commissioner of the Philippine Securities and Exchange Commission Calvin Lester Lee said he was unsure if such digital assets would dominate by then. However, he added that they will continue to be used, having undergone some transformation.
Douglas Arner, who works on the relationship between finance and technology regulation at the University of Hong Kong, observed that the period up to 2030 will be a competition between centralized and decentralized approaches. According to the expert, by the end of the decade there will be a number of regulatory requirements that are likely to regulate stablecoins.
Earlier, the head of Binance, Changpeng Zhao, predicted an increase in the number of non-dollar stablecoins. He stated that the increased control over the cryptocurrency market by regulators indicates the need for “stable coins” without reference to the US dollar.
The entrepreneur noted that the industry may start looking for “other options” for stablecoins. In the future, the role of assets with a focus on the euro, yen, Singapore dollar, etc. will probably increase.
“Given the pressure and stance of regulators on USD-based stablecoins […] this has actually prompted us to look for more options in different places,” he concluded.
