Margaret Tahyar and Joe Hall discussed digital asset regulation with IFLR
Davis Polk partner and Financial Institutions head Margaret Tahyar and partner and ESG head Joe Hall discussed U.S. digital asset regulation with IFLR and the type of legislation that may be introduced this year. “Comprehensive legislation on crypto currencies or digital assets in their entirety is unlikely to emerge in the first half of this year, but there are hopes that a bill targeting stablecoins will happen,” Margaret explained. “The bipartisan impulse is around stablecoins, and nothing more.”
Joe added that “crypto regulation is on everyone’s radar because of the FTX debacle” and he expects there will likely be two major types of legislation introduced in Congress, one to define jurisdictional lines between the SEC and the CFTC and the other to clarify the regulatory status of stablecoins.
“Stablecoins to lead US digital asset regulation,” IFLR (February 3, 2023) (subscription required)