Bank of America urges to introduce regulation of the stablecoin market

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The bank representatives believe this will be a catalyst for their growth and adoption

Bank of America urges to introduce regulation of the stablecoin market

24.11.2021 - 09:15

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What’s new? According to the CoinDesk portal, Bank of America, one of the largest financial institutions, has made an offer to speed up the regulation of the stablecoin market.

News source on the CoinDesk website

What are the bank's arguments? According to the Bank of America representatives, urgent regulation of the market will allow stablecoins to become a viable payment method.

“A regulatory framework should incentivize payments companies to integrate blockchain technology and stablecoins into their platforms,” the financial institution analysts said.

Once the regulators decide on the legislation for stablecoins, the bank will give its customers access to this asset type. Otherwise, institutions will have to create their own stablecoins to meet increased customer demand for them.

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Editorial GetBlock Magazine

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