Salman Banaei, Head of Policy Research at Chainalysis, revealed that U.S. regulators may supervise stablecoins in 2023. He believes that there are three key factors that are driving the United States to strengthen the supervision of stablecoins:
- On the issue of reserve guarantees, Salman Banaei stated that some stablecoin issuers will provide misleading charts about holders’ assets in their announcements. This may cause these digital asset holders to suddenly realize that due to the potential run risk of re-pricing, the value of the assets held by the issuer of the stable currency may depreciate;
- Stablecoins are encouraging some speculative behaviors, including the development of dangerous unregulated ecosystems, such as DeFi applications that are not yet subject to regulations like other digital assets.
- The stablecoin may become a legitimate competitor of the standard payment network. The issuer of the stablecoin is likely to provide a scalable payment solution, which will cause a big blow to traditional payment systems and banking service providers. .