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Regulatory Road
Aurelie Barthere
Key Takeaways
8 min read
  • In this note we review possible regulatory scenarios for stablecoins and other digital assets
  • On the macro front, we could see the path for Fed rate cuts being further reduced (e.g. “higher for longer” narrative as wage growth is sticky)
  • We continue to see a likelihood of crypto prices range-trading with episodes of bear market rallies, until US rates come down

Regulatory developments and implications for crypto

1. Areas of crypto under regulatory scrutiny: stablecoins, yield products, roles of exchanges and NFT platforms

The increased regulatory scrutiny, and the emphasis on stable coin regulation, “yield” products, and the role of exchanges come as no surprise. Those themes were flagged last September in the White House’s Framework for Responsible Development of Digital Assets.

What are the crypto areas under special scrutiny?

**Crypto lending products where the intermediary charges a fee...