- Chainalysis study suggested the U.S. is losing grip on $124.5 billion stablecoin market.
- Stablecoin inflows to 50 crypto services moved from U.S. entities to non-U.S.licensed platforms.
- North America leads in crypto despite declining licensed stablecoin transactions.
Prominent blockchain research firm Chainalysis has disclosed that the United States government is potentially losing its regulatory grip over the $124.5 billion stablecoin market.
Chainalysis made the claim in a study published on Monday, October 23. The report was part of the research firm’s latest findings on the Global Crypto Adoption Index, highlighting a significant shift in the landscape of stablecoin activity.
According to the report, a growing portion of stablecoin activity now occurs through exchanges not licensed by the United States. Chainalysis found that stablecoin inflows to the 50 most prominent crypto services migrated from U.S.-licensed platforms to non-U.S.-approved businesses since the spring of 2023.
Specifically, the report highlighted that as of June 2023, 54.6% of stablecoin transactions to the top trading platforms were directed to exchanges outside U.S. regulatory…
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