Daniel Stabile Discusses the Future of Cryptocurrency with NBC News

Winston & Strawn Partner Daniel Stabile spoke with NBC News about the future of digital asset regulations.

Despite the turmoil in the digital asset markets and the bankruptcy events in 2022, professionals in the industry say that the events of the past year have done nothing to change the long-term viability of blockchain technology.  

“The issues we’ve been seeing in this space have been caused by individuals and institutions making mistakes or taking on too much risk, or worse,” said Daniel. “It doesn’t do anything to impugn the power of the technology itself. So while this has been a shock to the market, a lot of people in the space remain sanguine about the future of blockchain technology.”

Daniel also stated that while there is debate on whether existing regulations were adequate to stop the alleged fraud in some recent bankruptcies, it is in the long-term interest of digital assst builders to accept further regulations. He noted that the lack of regulatory certainty has likely prevented new, breakthrough applications from being created. 

“It’s causing emerging businesses in this space to not enter the U.S. market,” Stabile said. “Who knows how many businesses could have been developed here. But entrepreneurs thought the risk was too great to bear. That's a very important thing that regulators and lawmakers need to get straight.”

Read the full article here.