Stake General Counsel Jeremiah Ooi has warned it would be “unwise” to ignore the significance of cryptocurrency, amid a rapidly evolving regulatory landscape.
Speaking at ICE Barcelona on Monday afternoon, the crypto casino’s in-house lawyer revealed that stablecoins – crypto pegged to the value of a fiat currency or a commodity – are among the top 20 of U.S. Treasury securities. “There are only 20 countries in the world that hold more than stablecoins,” Ooi said.
He also pointed to changes at the top of the U.S. Securities and Exchange Commission, where former Chair Gary Gensler is expected to be replaced by erstwhile SEC Commissioner Paul Atkins, a vocal crypto advocate.
