Major markets such as the United States need new statutory definitions of digital assets to provide regulatory clarity for the sector, Jeremy Allaire, CEO of USDC stablecoin issuer Circle said on Monday.
Allaire said blockchain technology itself should be viewed similarly to an operating system, while individual use cases should be regulated separately.
"New definitions ... would help provide more clarity on which regulators are involved in what activity," Allaire told the Reuters Global Markets Forum on the sidelines of the World Economic Forum's annual meeting in Davos.Markets in Cryptoassets"We're quite optimistic that MiCA will create the conditions for a thriving competitive market in the EU," Allaire said.
Circle plans to onshore its euro-backed stablecoin, which launched in 2021 from its U.S. entity, as MiCa is implemented, Allaire added, and the firm is planning to look at other potential digital currency offerings. Reporting by Divya Chowdhury in Davos and Lisa Mattackal in Bengaluru; Additional reporting by Tom Wilson in London; editing by David Evans
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Davos 2023: Global recession seen likely in 2023 -WEF surveyTwo-thirds of private and public sector chief economists surveyed by the World Economic Forum (WEF) expect a global recession in 2023, the Davos-organiser said on Monday as business and government leaders gathered for its annual meeting.
Read more »
Davos 2023: Global recession in 2023 seen as likely in WEF surveyTwo-thirds of private and public sector chief economists surveyed by the World Economic Forum (WEF) expect a global recession in 2023, the Davos-organiser said on Monday as business and government leaders gathered for its annual meeting.
Read more »
Davos 2023: Palantir CEO predicts hiring while preparing for economic slowdownPalantir Technologies Inc is still looking to grow its headcount even as it scrutinizes its spending and confronts economic uncertainty, its chief executive told Reuters.
Read more »
Davos 2023 Job cuts not top of mind, 'phenomenal opportunity' in Asia -Manulife CEOJob cuts are not 'top of mind' for Manulife Financial Corp , Canada's largest insurer, as it sees significant growth opportunities, fuelled particularly by Asia, CEO Roy Gori said on Monday.
Read more »
Davos 2023: Climate activists protest over big oil hijacking debateClimate activists protested in Davos on Sunday against the role of big oil firms at this week's World Economic Forum (WEF), saying they were hijacking the climate debate.
Read more »
Davos 2023: Protesters urge world leaders to rethink economic systemEcological crisis is fueled by current economic structure, say activists gathered in Davos-Klosters, Switzerland protesting ahead of the annual summit starting from Monday.
Read more »