With the passage of Financial Innovation and Technology for the 21st Century Act (FIT 21), U.S. Stablecoin legislation has gained momentum with both political parties viewing stablecoin regulations as a necessary first-step in reigning in the disorderly crypto market. Sarson Fund’s CEO and sponsor of the newly launched US banking compliant Casper Network stablecoin, csprUSD, John Sarson expressed the importance of establishing robust standards for stablecoin issuers, emphasizing the need for asset segregation, compliance, proof-of-reserves, and KYC requirements.
“When Stablecoin legislation passes, we are going to quickly discover which stablecoins are out of compliance,” says Sarson, suggesting that many existing stablecoins do not qualify. Equity sale proceeds will support the immediate development and launch of additional US-focused stablecoins on various layer-1 blockchains and will be used to expand the Stablecoin Consortium Association, a Swiss advocacy group for the responsible development of stablecoins helmed by Sarson Funds.
By raising directly into the Stablecoin Consortium Association Sarson Funds aims to provide investors with a targeted bet on the growth of regulated stablecoins coins globally. A boutique manager in blockchain, US-domiciled Sarson Funds serves as a trusted advisor to professional investors, web3 founders, and top crypto projects.
COMPANIES: Casper Association, Sarson Funds, Stablecoin Consortium Association
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