Stablecoin

Token

Standard

<a href="https://bitcoinworld.co.in/an-interview-with-stablecoin-standard/" title="An Interview With Stablecoin Standard" rel="noopener noreferrer nofollow"></a>
<p><em><strong>In an exclusive interview with&nbsp;<a href="https://bitcoinworld.co.in/" rel="noopener noreferrer nofollow">BitcoinWorld</a>, We got a chance to interact with &nbsp;<a id="x_1081894467LPlnk414289" title="https://www.bethhaddock.com/" href="https://www.bethhaddock.com/" target="_blank" rel="noopener noreferrer nofollow">Beth Haddock</a>, Global Policy Lead at<a id="x_1081894467LPlnk424335" title="https://www.stablecoinstandard.com/ecosystem" href="https://www.stablecoinstandard.com/ecosystem" target="_blank" rel="noopener noreferrer nofollow">&nbsp;Stablecoin Standard</a>, the industry body for stablecoin issuers globally, In this interview, We discuss how <a id="x_1081894467LPlnk424335" title="https://www.stablecoinstandard.com/ecosystem" href="https://www.stablecoinstandard.com/ecosystem" target="_blank" rel="noopener noreferrer nofollow">Stablecoin Standard</a> actually works ?&nbsp;</strong></em></p>
<p>&nbsp;</p>
<h5><span style="text-decoration: underline;"><strong>Can you explain the mission of Stablecoin Standard and how it aims to influence the development and adoption of stablecoins globally?</strong></span></h5>
<blockquote>
 <p>Stablecoin Standard represents 28 <a href="https://www.stablecoinstandard.com/ecosystem" target="_blank" rel="noopener noreferrer nofollow">global members</a>, partners, and issuers, and is committed to driving global adoption of digital money through education, best practices, and policy engagement. In my new role as Global Policy Lead, I will lead the launch of an initiative to establish new global standards, set to be unveiled at our <a href="https://lu.ma/0zvxmykb" target="_blank" rel="noopener noreferrer nofollow">Annual Flagship Event</a> in Singapore during the week of Token 2049. &nbsp;These standards will empower issuers and partners to showcase their commitment to responsible innovation, highlighting stablecoins as a key solution for cross-border payments and a powerful enhancement to traditional financial options for consumers and entrepreneurs.</p>
</blockquote>
<h5><span style="text-decoration: underline;"><strong>What are the key operational, transparency, and product standards that Stablecoin Standard is advocating for, and why are they important for the industry?</strong></span></h5>
<blockquote>
 <p>The new standards, to be unveiled at our flagship event during Token 2049 in Singapore, focus on three key areas: 1) Operational resilience through financial stability, 2) Transparency and business ethics centered on consumer protection, and 3) Issuer and product commitments, including a financial crime prevention program. These standards are, in my view, the foundation of responsible innovation. They are crucial for ensuring that stablecoins, as part of the blockchain and crypto community, clearly demonstrate their commitment to good business practices as the sector grows and innovates.</p>
</blockquote>
<h5><span style="text-decoration: underline;"><strong>How do you see the regulatory landscape for stablecoins evolving, and what challenges do you foresee in achieving global regulatory harmonization?</strong></span></h5>
<blockquote>
 <p>The Stablecoin Standard recently developed a comprehensive inventory of current and proposed stablecoin regulations for its members, reflecting the vast and evolving landscape. I anticipate continued changes that will reinforce key themes, such as labeling a product a ‘stablecoin’ only if it can verifiably withstand market stress and operational challenges. We can also expect a growing consensus around the need for timely, transparent reporting, ensuring that anyone purchasing a stablecoin can trust in the accuracy of information regarding its backing assets and risk mitigation design.</p>
 <p>While global regulatory harmonization may vary in details, especially concerning algorithmic stablecoins, fundamental principles like consumer protection and product transparency are already widely recognized. As regulations develop, I foresee a focus on safeguarding consumers from fraud and ensuring that product features are clearly presented to enable informed decision-making. In times of volatility, we may see issuers who can not stand behind their claims of resiliency and stability. When they fail, we will see momentum to resolve any confusion about the obligations to use the term stablecoin responsibly.</p>
</blockquote>
<h5><span style="text-decoration: underline;"><strong>Can you discuss the role of compliance and regulatory strategy in both traditional and decentralized finance, and how your experience informs your work at Stablecoin Standard?</strong></span></h5>
<blockquote>
 <p>Regulatory strategy is the engine that drives growth for many businesses. In my opinion, without a strategy that accurately assesses risks and implements smart controls through technology and thoughtful product design, a business—whether in traditional finance or DeFi—won’t thrive. This is especially true for innovators in stablecoins, DeFi, or other blockchain projects, where the absence of legacy bureaucracy allows them to operate fairly and legally while maintaining agility.</p>
 <p>At Stablecoin Standard, my focus is on leveraging this unique opportunity to innovate not just in payment processing, but also in regulatory compliance.&nbsp; In my book, <em>Triple Bottom-Line Compliance</em>, I challenge the traditional compliance status quo, which, as seen in the Transparency International <a href="https://www.transparency.org/en/cpi/2023?gad_source=1&amp;gclid=CjwKCAjwoJa2BhBPEiwA0l0ImFsiXSO8jkRKh04qkkZa7cfEUE4H-F-yg6q3ztvowpFKVlizIXyCXxoCzwcQAvD_BwE" target="_blank" rel="noopener noreferrer nofollow">Corruption</a> Index, hasn’t been as effective in preventing fraud as it could be. The new standards we have developed are principle-based, designed to promote sound business judgment while rejecting rationalizations that compromise these principles. This approach aligns with my belief that we can and should do better in both innovation and compliance.</p>
</blockquote>
<h5><span style="text-decoration: underline;"><strong>What specific initiatives is Stablecoin Standard currently working on to promote transparency and trust within the stablecoin market?</strong></span></h5>
<blockquote>
 <p>As we finalize the initial set of standards we’ll be announcing in the coming weeks, the most important initiatives we’re currently working on are about building awareness, credibility and trust in order to drive the adoption of the new standards across the entire industry.</p>
</blockquote>
<h5><span style="text-decoration: underline;"><strong>How do you engage with financial institutions and fintech firms to align their operations with the standards proposed by Stablecoin Standard?</strong></span></h5>
<blockquote>
 <p>We’re creating an ecosystem that includes not just issuers, but also partners and policy ambassadors. While aligning with our standards is voluntary, these standards already reflect many of the requirements that financial institutions and fintech firms are accustomed to. Our engagement goes beyond events like the upcoming Token 2049; it involves active collaboration with stakeholders on our Advisory Board, issuers group, and partners group within the Stablecoin Standard ecosystem. We’re excited to grow this ecosystem with the launch of the new standards, and we welcome anyone interested in joining us to reach out.</p>
</blockquote>
<h5><span style="text-decoration: underline;"><strong>In your view, how important is it for stablecoins to have clear and consistent regulatory guidelines, and what impact could this have on their mainstream adoption?</strong></span></h5>
<blockquote>
 <p>In my opinion, mainstream adoption hinges on trust. As the <a href="https://www.edelman.com/trust/trust-barometer" target="_blank" rel="noopener noreferrer nofollow">Edelman</a> Trust Barometer shows, companies that build credible brands thrive. While clear and consistent regulatory guidelines are important, I<a href="https://www.coindesk.com/opinion/2024/07/11/crypto-for-advisors-crypto-and-compliance/" target="_blank" rel="noopener noreferrer nofollow"> believe </a>that, especially with the new Stablecoin Standards, issuers already have the tools to build that trust. Regulatory developments must be managed and addressed, but they don’t have to impede mainstream adoption.</p>
</blockquote>
<h5><span style="text-decoration: underline;"><strong>What are your long-term goals for Stablecoin Standard, and how do you envision its role in shaping the future of the stablecoin ecosystem?</strong></span></h5>
<blockquote>
 <p>My long-term goal for Stablecoin Standard is to be the driving force that helps innovators disrupt traditional money movement. The potential for stablecoins is immense, and as the Harvard Business <a href="https://hbr.org/2024/08/the-race-to-dominate-stablecoins?utm_source=departmentofxyz.beehiiv.com&amp;utm_medium=newsletter&amp;utm_campaign=the-briefing-memo-from-the-department-of-xyz&amp;_bhlid=bb9f95ecebd1cda9d6d482bc9cc6c50f4b784aa5#:~:text=Regulators" target="_blank" rel="noopener noreferrer nofollow">Review </a>recently highlighted, there’s a fierce race to lead this sector. The Stablecoin Standard’s mission is to equip challengers with what they need to win that competition and be the forum where innovation in the sector thrives.</p>
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     <h5><em>Stay tuned for more thought-provoking content and engaging interviews on&nbsp;<a href="https://bitcoinworld.co.in/" rel="noopener noreferrer nofollow">Bitcoinworld.co.in</a>, World of Cryptocurrency &amp; Blockchain News.</em></h5>
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An Interview With Stablecoin Standard

ItsBitcoinWorld

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