David Sacks: Traditional US Banking and the Crypto Industry Will Ultimately Merge into the "Digital Asset Industry"

BlockBeats News, January 21st, White House Cryptocurrency and AI Advisor David Sacks stated that as Congress advances new market structure legislation, the boundaries between traditional US banks and the crypto industry will gradually disappear, eventually merging into a "digital asset industry."

He believes that banks may enter the crypto market in the future by issuing stablecoins and will see stablecoins as a tool to provide yields and compete with fintech companies. The relevant legislation aims to achieve equivalent regulation of similar products, balancing various stakeholders' demands and further unleashing institutional funds into the crypto market space. (CoinDesk)