Everything You Need To Know About Stablecoin Regulation

Stablecoin regulations have been slowly popping up around the world and in this episode, Ian Andrews (CMO, Chainalysis) speaks to the newly appointed Vice President and Deputy General Counsel, Global Policy at Circle, Corey Then and our very own policy expert, Caroline Malcolm to discuss stablecoin regulation, USDC’s integration into international markets and the threat of de-dollarization.

Corey explains how USDC works  and its role in the digital asset ecosystem, as well as Circle's business model and how it differs from other stablecoin issuers.

Corey and Caroline simplify the global regulatory landscape for stablecoins and discuss the importance of regulatory harmonization and the need for the US to enact payment stablecoin legislation, while maintaining high standards for AML/CFT requirements.

They also touch on the competition between stablecoins and Central Bank Digital Currencies (CBDCs), as well as the potential for stablecoins to facilitate dollarization in economies facing high inflation or restrictive capital controls.

Minute-by-minute episode breakdown

• (2:00) - Overview of how USDC works and Circle's business model
• (4:40) - Progress in the regulation and standards for stablecoins globally
• (6:50) - Circle's role in leading stablecoin policy and increasing regulation concerns in USA
• (19:50) - The emergence of BRICS and how does that impact global stablecoin ecosystem and industry players 
• (25:21) - Grassroots adoption of cryptocurrency and stablecoins in markets with high inflation and capital controls
• (30:50) - Importance of following AML and CFT regulations for stablecoin issuers

 

Related resources

Check out more resources provided by Chainalysis that perfectly complement this episode of the Public Key.

• Website: Circle: We’re building a new internet financial system
• Blog: Transparency Report:USDC is always redeemable 1:1 for US dollars, and EURC is always redeemable 1:1 for euros.
• Video Series: The Money Movement (A conversation with Jeremy Allaire and Sheila Warren)
• Report: The State of the USDC Economy Report
• Report: The Chainalysis 2024 Crypto Crime Report (Coming soon!)
• Event: Chainalysis Links Conference NYC 2024 (Apr. 9-10, 2024) - Early Bird Pricing On Now!
• Blog: 54% of ERC-20 Tokens Listed on DEXes in 2023 Display Patterns That May Be Suggestive of Pump and Dump Schemes
• Podcast: Ep. 44 - Everything You Need To Know About Crypto Market Manipulation
• YouTube: Chainalysis YouTube page
• Twitter: Chainalysis Twitter: Building trust in blockchain
• Tik Tok: Building trust in #blockchains among people, businesses, and governments.
• Telegram: Chainalysis on Telegram 

Speakers on today’s episode

• Ian Andrews * Host * (Chief Marketing Officer, Chainalysis) 
• Corey Then (Vice President and Deputy General Counsel, Global Policy, Circle)
• Caroline Malcolm (Vice President, Global Public Policy, Chainalysis) 

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