US stablecoins legislation ‘could severely backfire,’ former BOC VP warns

Wang Yongli, a former vice president of the Bank of China and the first Chinese mainland member of the SWIFT board, stated that American stablecoins legislation may inadvertently destroy the very industry it aims to regulate. In a lengthy analysis published on WeChat, Wang argued that the GENIUS Act, signed into law by President Donald […] source: https://www.cryptopolitan.com/us-stablecoins-legislation-could-backfire/