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CME Group CEO: Bitcoin "cannot create deficits," posing regulatory challenges for the Federal Reserve.
"Duffy therefore stated that the main selling point of the vast majority of cryptocurrencies, namely ""limited supply,"" is also a practical obstacle for many countries to adopt this technology. As of today, regulatory authorities still approach cryptocurrencies with caution due to their status as a financial instrument, which is considered somewhat immature.
He added, ""I do believe that under the current circumstances, any matter related to cryptocurrencies, even if it's just routine paperwork, will be handled very cautiously by regulatory authorities. Your product must be acceptable to regulatory authorities, but I think something so novel is indeed challenging for people to adapt to.""
Additionally, Duffy believes that stablecoins pegged to the US dollar or the euro will gain more traction, as they share similar characteristics with traditional currencies. Many cryptocurrency entrepreneurs and financial experts have expressed that stablecoins represent the best use case for cryptocurrencies. For example, the Winklevoss brothers issued the Gemini Dollar (GUSD), a stablecoin pegged to the US dollar, stating that stablecoins and tokenized securities are the future of crypto innovation." |
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Post time 15-12-2023 10:11:52