Solana (SOL) co-founder Anatoly Yakovenko says a pivotal development in the crypto space could spark a massive surge in digital asset adoption.
Yakovenko says in a new interview with Scott Melker that stablecoin legislation in the US could blow the doors wide open to onboarding new users into the industry.
“My big hope/dream is that Congress passes stablecoin legislation this year and we see a thousand stablecoins flourish that compete globally and give every human being in the world access to a digital dollar.
And that means we’re effectively starting to onboard most of the world for the digital dollar on Solana, because it’s the best place to do it. But effective against a fast, cheap blockchain.
And once you have enough users with wallets and self-custody doing all this, I think you really have a big enough market [and] you can start testing all other business models. But we’ll see what happens, right? I think this is one of the components that could drive a huge increase in crypto adoption.”
Yakovenko also says he agrees with the unpopular sentiment that stablecoins are the “killer app” likely to attract users around the world, especially those living in countries with collapsing currencies, as they have a serious need to access them. digital dollars.
Last month, the US House Committee on Financial Services released a draft stablecoin bill proposing qualifications and requirements to be a stablecoin issuer of payments and outlining criminal penalties for violators.
The bill would also require the research and exploration of a central bank digital currency (CBDC).
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