Anıl Öncü, CEO of Bitpace, told CCN that the existing financial regulations were not built for digital-native payment systems.
“Existing financial regulations were not built for digital-native payment systems,” Oncu said.
They added that the Act should focus on “adding assurance and control.”
Oncu said while yield-bearing stablecoins can offer advantages, he said it needs to be “fully backed by high-quality liquid assets and subject to clear supervisory oversight.”
