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Members of the crypto industry is sitting at the edge of their seats as the hearing on crypto regulation in front of the House Financial Services Committee is approaching. Paxos’ co-founder and CEO, Chad Cascarilla, spoke on the matter in a recent interview, offering his expectations on what might happen, and what might be next.

He noted that there is a number of angles that the House will have to consider the crypto industry and regulations, and ask important questions such as “How is this going to affect the future?” or “How is this technology going to change lives?”

However, he noted that this will also be largely focused on the dollar, and how the dollar is changing. The type of product that the dollar is representing is becoming different. People are using it in different ways, and as a result, their daily lives are changing also. The house will also have to consider these things before making a decision. Of course, the US needs to maintain its financial primacy, but also adapt to the new changes that are happening in the world, and that will mean adopting cryptocurrency in one form or another, at some point.

One thing that Cascarilla was quite clear about is that the crypto industry needs clarity, consistency, and certainty, which is why everyone in it is eager to get some sort of regulation to work with.

All of these are big topics, as he pointed out, and there is a lot to talk about, so for the time being — it all remains a part of an ongoing conversation. He did say, however, that he sees this as more of an opportunity than a chance for the “hammer to come down,” especially in the case of Paxos, which always embraced regulation.

When asked about what does he personally think should be tackled first, he said that there are several components that need to be cleared out as soon as possible, including understanding assets, sorting out assets in the grey areas of crypto, and the topic of safe tokenization of dollars.

The post Paxos CEO says that the upcoming hearing on crypto regulation is an opportunity appeared first on Invezz.

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