Moody’s analysts stated that the US crypto stance will make the country less attractive.
Moody’s analysts evaluated the US stance on the crypto sector. However, analysts noted that this stance would make the country less attractive.
Moody’s Analysts: US Crypto Attitude Could Make The Country Less Attractive
Moody’s analysts said that the lack of progress on US cryptocurrency regulations could make the country less attractive. According to a report by Moody’s Investors Service, it is believed that the attractiveness of the United States for both companies and investors may decrease if a consensus cannot be reached on the regulation of the United States regarding cryptocurrencies.
Democrats and Republicans work in two separate ways towards the regulation of stablecoins. In addition, efforts to create a pathway for digital tokens to be accepted as securities are an ongoing issue in the US. According to a Moody’s Investors Service report, if there is no agreement between Democrats and Republicans on how to regulate cryptocurrencies, the United States may become less attractive to companies and investors as other countries move forward with their own rules.
The report was published around the time the House Financial Services Committee was discussing two separate bills to regulate stablecoins and another bill that aims to regulate cryptocurrencies more broadly. A hearing last week showed that there are differing views on this broader picture between the two sides, but there is hope for a consensus on stablecoins.
