O’Leary expressed concerns that legacy forex platforms deter stablecoin adoption due to the competitive threat they pose. Traditional systems rely on high fees for cross-border transactions, which may diminish as regulated stablecoins offer cheaper alternatives.
Current U.S. Legislative movements are pushing for stablecoin regulation, specifically targeting the Genius Act for passage by May. This regulatory framework is expected to enhance consumer protections and potentially unlock significant institutional investments in cryptocurrency.
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