TechFlow news, Circle Vice President Yam Ki Chan said at Korea Blockchain Week that the U.S. may be falling behind other major global regions in federal-level stablecoin regulation.
Compared to the EU's MiCA regulations and Hong Kong's stablecoin framework, the U.S. has not yet established a unified national regulatory approach. Currently, U.S. states primarily regulate stablecoins under existing money transmission laws, resulting in regulatory fragmentation. Although the "2023 Clarity for Payment Stablecoins Act" has passed the House Committee, it still needs to go through further legislative procedures. Chan emphasized that the U.S. needs to upgrade its regulatory framework and believes the upcoming election could present an opportunity to reshape discussions on cryptocurrency policy.
