The digital asset industry is poised for a major shift as Washington gears up to address its regulation. According to Caitlin Long, founder and CEO of Custodia Bank, the evolving dynamics in the capital could soon have a profound impact on the future of crypto.
Long, a seasoned veteran in finance with a deep focus on blockchain technology, predicts the passage of two pivotal pieces of legislation: a stablecoin bill and a broader market structure bill. These bills could fundamentally alter the landscape for digital assets in the US, establishing a framework for their regulation and adoption.
“I expect a stablecoin bill to be implemented and anticipate a market structure bill to pass as well,” she stated during a recent interview. While Long is optimistic about the potential for progress, she also acknowledges the significance of the details within these bills. “The devil will be in the details,” she added.
One of the key areas of debate within the upcoming legislation centers around the concept of self-custody of crypto assets. Will users be able to maintain control over their digital assets or will they be required to rely on regulated custodians? Long argues that self-custody is essential for driving adoption, particularly for payment use cases, as it empowers users with greater control over their assets. This regulatory decision will have far-reaching consequences, influencing how accessible digital assets become to different populations.
Long’s insights will be shared at the Benzinga Future of Digital Assets event, where she is scheduled to delve deeper into these critical topics. As the conversation surrounding stablecoins and self-custody gains momentum, her perspectives will be crucial in understanding how policy changes will shape the digital asset landscape.
The potential for new legislation presents both challenges and opportunities for the digital asset industry. Long’s observations offer a clear lens into the regulatory complexities and the opportunities for innovation that lie ahead. As the digital asset market continues to mature, the convergence of regulatory shifts, mergers and acquisitions, and adoption trends will ultimately define the future of this dynamic field. The Benzinga Future of Digital Assets event, taking place in New York City this November, will provide a platform for industry leaders and investors to engage in these crucial discussions and gain insights into the evolving regulatory environment and the latest market dynamics.
