Leader of Manatt’s Fintech and Blockchain and Cryptocurrency practices Brian Korn was quoted in The Business of Business surrounding the regulation and enforcement of cryptocurrencies by the U.S. Securities and Exchange Commission.
Korn noted that there may be pressure to pass further regulation on stablecoins because so many regulators foresee them posing risks in the financial sector. “There's really been a lack of clarity around the regulation of cryptocurrency, crypto assets, DeFi and token offerings,” he said. “If I was the U.S. government, I'd rather have sensible regulations that are welcoming to people, but at the same time, strong enough to enforce the law, than have something which encourages a black market to be done somewhere else."