#Coinbase is requiring stablecoins to be backed by U.S. Treasuries.#
Hot Topic Overview
Overview
Coinbase CEO Brian Armstrong said at the World Economic Forum in Davos that he expects the US to introduce new stablecoin regulations requiring issuers to be fully backed by US Treasuries and undergo regular audits. He believes this would make it harder for offshore companies to serve the US market and could potentially impact stablecoin issuers like Tether. Armstrong also stated that Coinbase plans to continue offering USDT services to help customers access other crypto assets, but if Tether fails to comply with the new US laws, Coinbase will delist USDT. Additionally, Armstrong expressed optimism about Bitcoin, stating that he believes it will become the new gold standard and predicting its price will reach millions of dollars. He believes the Trump administration is excited about Bitcoin strategic reserves and could potentially become the first Bitcoin president.
Ace Hot Topic Analysis
Analysis
Coinbase CEO Brian Armstrong said at the World Economic Forum in Davos that he expects the US to soon introduce new stablecoin regulations, which could require all stablecoin issuers to be fully backed by US Treasuries and subject to regular audits. He believes this move will make it harder for offshore companies to serve the US market and could have a significant impact on stablecoin issuers like Tether. Armstrong said that Coinbase would delist USDT if Tether could not comply with the new US laws, but would continue to offer USDT services to help customers access other crypto assets. He also emphasized that Coinbase has already delisted USDT and other non-compliant stablecoins in Europe in anticipation of the Markets in Crypto-Assets Regulation (MiCA), but that they could be relisted if they subsequently meet MiCA compliance requirements.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Stablecoin regulation may require full backing by US treasuries.
Bitcoin is a better form of money than gold.
Governments should hold bitcoin.
Bitcoin will enter the multi-million, multi-billion price range, becoming the new gold standard.
The Trump administration may introduce new cryptocurrency regulations.