As the changing political environment in the United States is pushing regulators to take more cryptocurrency-friendly steps, efforts to reach agreement on a bill between Congress and the White House are still ongoing.

Fideum CEO and co-founder Anastasija Plotnikova said in an interview with the media: "I am worried that cryptocurrency regulation will be postponed until 2025." Because Plotnikova predicts that no matter who wins the election, the United States will implement comprehensive stablecoin regulation unless "immature legislation" is rushed through in the next few weeks.

Meanwhile, Stabolut founder Eneko Knörr believes that legislation will largely depend on the outcome of the upcoming presidential election and subsequent policy decisions. Knörr believes that the United States "can either embrace the cryptocurrency revolution or risk falling behind in the global competition."

Additionally, Knörr compared Donald Trump’s pro-crypto stance to Joe Biden’s more cautious stance. Regardless of who is elected, Stabolut’s founder said the next U.S. president could reshape the future of the cryptocurrency industry both within the United States and abroad.

The impact of MiCA stablecoin regulations on US legislation

On June 30, the European Union’s Markets in Crypto Assets (MiCA) stablecoin regulation officially came into effect in all 27 member states, marking an important step forward in Europe’s digital asset regulation. Circle was awarded the first license under the regulation, paving the way for compliance of fiat-to-crypto payment channels in the region.

Although Europe has become the first major economy to implement a comprehensive digital asset framework, this has also attracted great attention from the United States, the world's largest capital market. Fideum CEO Anastasija Plotnikova pointed out that the United States has a more favorable condition in formulating relevant bills because it does not need to coordinate positions among multiple member states, each of which has its own interests and political considerations. She foresees that there will be heated discussions in the United States around the scope of the bill and the requirements for stablecoin issuers.

Both Plotnikova and Stabolut founder Eneko Knörr expressed reservations about MiCA’s stablecoin policy and suggested that the United States should seek a balance when formulating policies, that is, to strengthen regulation while encouraging innovation. At the same time, Knörr also warned that excessive regulation could inhibit innovation, which in turn led to the outflow of talent and capital to places with a more relaxed regulatory environment.

The regulation of stablecoins has become a hot topic of discussion among lawmakers and financial industry stakeholders. U.S. congressmen including Maxine Waters, Patrick McHenry, and French Hill are negotiating on relevant rules in an effort to reach a consensus. Former House Speaker Paul Ryan believes that the adoption of stablecoin regulation could increase demand for U.S. Treasury bills, which could help ease concerns about the country's growing debt. However, Plotnikova suggested that the scale of the U.S. debt crisis is beyond the scope of a simple solution by private entities, with debt levels now exceeding $34 trillion.

At the same time, Knörr pointed out that increased purchases of Treasury bills could have a positive impact on the U.S. economy, although it would not completely solve the debt problem. Therefore, stablecoin regulation is not only related to the development of the cryptocurrency market, but may also have an impact on the broader economic policy of the United States.

Conclusion:

In the United States, the pace of stablecoin regulation is accelerating, but its final form remains undecided. With the implementation of the EU MiCA regulations, the world's attention is now turning to the United States, looking forward to its policy choices in the field of cryptocurrency. At the same time, the heated discussions among US legislators, financial regulators and industry leaders foreshadow an exploration of regulatory balance. In this process, the United States needs to find the right balance between innovation incentives and risk control to ensure its leadership in the global fintech competition.

At the same time, the connection between stablecoin regulation and the U.S. national debt problem cannot be ignored. Faced with a debt level of more than $34 trillion, the compliance of stablecoins could bring new demand for Treasury bonds, thereby providing a potential relief path for the U.S. economy. The policy direction of the next U.S. president will largely affect the future development of the cryptocurrency industry and the role of the United States on the global economic stage.

In short, as the regulatory framework gradually becomes clearer, the United States has the opportunity to shape a cryptocurrency market that is both safe and vibrant, setting a new benchmark for global financial innovation. #稳定币 #监管法案 #MiCA法案 #美国加密法