The absence of stable regulation in the US. It is one of the main obstacles to adoption, said S&P Global Ratings in a Wednesday report.
“The lack of regulation is one of the main impediments for the adoption of Stablecoin in the US. And has prevented a broader institutional adoption of established,” wrote the analysts led by Mohamed Damak.
S&P said that he expects adoption to grow once the regulation is in place.
The stable are cryptocurrencies whose value is linked to another asset, such as the US dollar or gold. They play an important role in cryptocurrency markets and are also used to transfer money internationally.
New rules are approaching. The National Innovation Law for National Senate Innovation for the United States (Genius) demands the federal regulation of stables with a market capitalization of more than $ 10 billion with the state regulation potential if aligns with federal rules . The stable law of the House of Representatives requires a state regulation without any condition.
Some users are expected to go from stablcoins not regulated to regulated once there is a framework, according to the report, and this could alter the industry panorama.
“Stablecoins will play an increasingly important role in transactions in the chain,” the authors wrote, protecting the savings of users of “local monetary instability in emerging markets” or to receive payments.
Wall Street Bank JPMorgan (JPM) said that Tether, who broadcasts the market leader, the USDT, could face challenges of the proposals of the US Stablecoin regulations. UU., In a report last week.
Read more: Tether may have to sell a bit of Bitcoin to comply with the US stablecoin rules. UU.: JPMorgan
