Stablecoins: Revolutionizing Global Finance?
Following the recent focus on two major regulatory frameworks—the Guiding and Establishing National Innovation for U.S. Stablecoins Act (known as the GENIUS Act) in the United States, and Regulation (EU) 2023/1114 of the European Parliament and of the Council of May 31, 2023, on markets in crypto-assets in the European Union—this White Paper delineates the new regulatory landscape for stablecoins in the United States and in the European Union. In addition, it includes a comparative outlook with the United Kingdom, Hong Kong, and the United Arab Emirates, while also assessing the potential impact of such regulation on stablecoins, legal challenges, and market opportunities.
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