Crypto Rules: When Will They Be Ready?

Kevin O'Leary, a well-known investor and TV personality, recently shared his thoughts on the future of crypto regulations. He believes that new rules for the crypto market will be in place before the upcoming midterm elections. Specifically, he thinks it will happen by May 15. O'Leary is optimistic because he sees how hard lawmakers are working on this. He mentioned that the staffers are spending most of their time on it. The main issue holding things up is the debate over stablecoin rewards. O'Leary finds it unfair that crypto platforms might not be allowed to give rewards for holding stablecoins.This isn't the first time someone has talked about this issue. Mike Novogratz, CEO of Galaxy Digital, also thinks a compromise is possible. He suggests that rewards could be tied to using stablecoins, not just holding them. Recently, Coinbase, a big crypto platform, pulled its support for the bill. Their CEO, Brian Armstrong, wants a fair playing field for crypto companies and for users to keep earning rewards on their stablecoins. On the other hand, Brad Garlinghouse, CEO of Ripple, sees the bill as a big step forward, despite its flaws. The crypto world is waiting to see how this plays out. It's clear that everyone wants fair rules, but agreeing on what's fair is the hard part.