Stablecoin Legislation Expected to Boost Institutional Interest in Crypto

According to PANews, billionaire and Galaxy founder and CEO Michael Novogratz expressed optimism about the impact of landmark stablecoin legislation on the cryptocurrency market. In an interview with Bloomberg Television on Wednesday, Novogratz stated that the passage of this legislation would attract more traditional financial institutions to the crypto space. He noted that when he founded Galaxy in 2017, he anticipated the eventual entry of institutional players, a trend that is now becoming evident.Novogratz is hopeful that the stablecoin bill will be enacted soon and expects subsequent market structure legislation to further integrate traditional finance with cryptocurrency technology. Additionally, he revealed plans for the future tokenization of equity in both crypto and non-crypto sectors. His company aims to collaborate with various parties to offer white-label and customized solutions.