4 Trends To Watch After Crypto's Big Year

4 Trends To Watch After Crypto's Big Year

January 3, 2022, Law360

Michael Nonaka was quoted by Law360 regarding cryptocurrency trends to watch in 2022 as it relates to stablecoins. According to Michael, a recent report from a task force addressing gaps in the oversight of stablecoins, “Showed that regulators are working among themselves to suss out lingering questions in the digital-asset space.” Michael stated that he thinks that in 2022, “We'll have more clarity around how cryptocurrency is to be regulated by federal financial agencies.”

According to Michael, "The [stablecoin] report was interesting in a number of the recommendations it included, but also showed the agencies are talking to each other; they do think cryptocurrency is an important area of the financial system; that it does warrant regulation in a particular way; and that it was just the start of, I think, a number of different announcements we're likely to see around how cryptocurrency fits into those frameworks."