Daniel Stabile Discusses State Digital Asset Regulations with Radio IQ

Winston & Strawn partner Daniel Stabile discussed state-level digital asset regulations with Radio IQ. Daniel said a number of states are taking steps to make themselves friendlier to digital asset activity.

“States that really want to do a service to the digital asset sector will at least clarify the rules of the road,” he said.

He noted that many states have been regulating digital asset companies as money service businesses under state law. “States can be laboratories for what works or doesn’t, but the truth of the matter is we need the federal government to have a coherent regulatory environment,” Daniel said, stressing the need for congressional action. But in the meantime, the creation of state-level commissions, such as one proposed in a recent Virginia bill, can help encourage progress.

“It’s an acknowledgement that legislators have recognized the potential importance of blockchain technology which helps an industry that’s been suffering from stigma for years,” he said.

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