#New Developments in Bitcoin Regulation#

The discussion surrounding Bitcoin regulation has heated up recently, with Coinbase CEO Brian Armstrong sharing his views on regulation in multiple forums and predicting the future trajectory of Bitcoin. He believes that Bitcoin can serve as a hedge against deficit spending and inflation, and expects its price to reach millions of dollars. He also stated that the US government is positive about establishing a strategic Bitcoin reserve, and believes that if the US holds Bitcoin, G20 countries will follow suit. Furthermore, Armstrong addressed stablecoin regulation, suggesting that the US might require stablecoin issuers to fully back their coins with US Treasuries. He added that Coinbase would delist USDT if required by law. Circle CEO Jeremy Allaire also shared his perspective, anticipating a US executive order on cryptocurrencies soon, highlighting the importance of stablecoin regulation. Overall, the market generally believes that the US government's stance on cryptocurrency regulation is shifting, with more concrete regulatory policies potentially emerging in the future. This development could significantly impact both the Bitcoin and stablecoin markets.