Coinbase: New Law = Richer? 🤑

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Right, so apparently this STABLE Act thingy is supposed to, like, make stablecoins all legit and boring. 🙄 Basically, Uncle Sam wants to keep a closer eye on our digital dosh, making sure it’s actually backed by real money or something equally snooze-worthy. Transparency, they call it. More like a massive headache, if you ask me.

Regulatory Moat Could Favor Established Institutions

Nansen (whoever they are) reckons this Act will create a “regulatory moat.” Fancy! Sounds like something out of a medieval movie. Anyway, it means only the big boys who already play nice with the U.S. rules will get to join the party. Think banks and crypto firms who’ve already spent a fortune on KYC (Know Your Customer – yawn), AML (Anti-Money Laundering – double yawn), and custody compliance (whatever that is).

“Entities like Coinbase are well-positioned,” Nansen wrote, probably while sipping a latte and feeling smug. Apparently, Coinbase is all buddy-buddy with Circle and helps distribute USDC, which is a stablecoin that ticks all the right boxes. Good for them. 🎉

Coinbase’s Custody and Liquidity Advantages

But wait, there’s more! Not only are they stablecoin darlings, but Coinbase might also benefit from a surge in demand for regulated custody (still don’t know what that is) and on-chain liquidity consolidation (sounds painful). Basically, big institutions want platforms that are safe, compliant, and, dare I say, boring. And Coinbase apparently fits the bill.

Nansen concludes that if this STABLE Act actually becomes law (highly unlikely, given the state of things), it could speed up institutional adoption of stablecoins while kicking all the smaller, offshore projects to the curb. So, good news for the suits, bad news for the rebels. 🤷‍♀️

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2025-04-19 20:36