Although the current rivalry between TradFi and DeFi, digital regulatory experts expected that stablecoin Regulation would be widely used globally by 2030.
Over the past few years, the cryptocurrency market has experienced significant growth, with a wide variety of associated products and services emerging. As the sector becomes increasingly integrated with the regulated financial system, there are concerns about the lack of proper regulation and oversight. With the majority of operations remaining largely uncontrolled, policymakers are struggling to keep pace with the potential risks posed by this rapidly evolving industry.
The International Monetary Fund (IMF) warns that systemic risks to financial stability could soon emerge in some nations.
Policymakers are paying close attention to regulated stablecoins as a panel of experts in the field of digital regulation analyzes the potential applications of the currencies at the (WOW) Conference in Hong Kong.
The group discussed regulated stablecoins’ anticipated continued use by 2030 in the panel titled “Digital Assets: Regulations & the Road Ahead.” They also examined how the stablecoin market’s current growth rate contributes to this likelihood.
The first deputy of the Danish Parliament and a supporter of blockchain technology & innovation, Alexandra Sasha, acknowledged the expansion of the cryptocurrency market but predicted that stablecoin regulation would gain ground.
Sasha stated in her statement:
“So I think there’s still two forms of need because you will have people who will want to centralize the digital era, and you will always have the people who do want this decentralized way of using payments, of course, unless it gets banned, but I do not think that’s the goal of anyone.”
The Bottom Line
Blockchain is referred to as future engineering technology in Professor Klaus Schwab’s book “The Fourth Industrial Revolution.” No one can dispute blockchain’s enormous potential because so many predictions regarding its future have been made.
By 2026, the commercial value contributed by blockchain will reach over $360 billion, predicts research firm Gartner. Then, that will rise to much more than $3.1 trillion by 2030.
Blockchain is anticipated to cause a significant change in the ensuing decades given present and anticipated tendencies.