This article examines the impact of the regulatory environment on stablecoins and forecasts the emergence of a new class of assets — dark stablecoins.
Stablecoins: Control and Regulation
The most prominent stablecoins, such as USDT and USDC, rely on custodial models, allowing them to hold reserves in traditional banks and comply with regulatory conditions. This model facilitates the easy storage and transfer of value for global users. However, with changes in regulation suggesting tighter control from governments, the utility and appeal of stablecoins are expected to undergo significant changes.
What Are Dark Stablecoins?
Dark stablecoins are defined by the CEO of CryptoQuant as those that are resistant to censorship and government control. Their emergence may take two forms: algorithmic stablecoins, which maintain their peg through code and economic incentives, and stablecoins issued by countries with minimal financial restrictions. The possibility of creating a decentralized stablecoin that tracks the value of regulated assets, utilizing oracles, has also been discussed.
Investment Prospects of Dark Stablecoins
The CEO of CryptoQuant speculates that dark stablecoin-related assets could emerge as a compelling investment class in the developing internet markets. While this is filled with risks, he encourages the community to conduct their own research, particularly emphasizing the importance of financial privacy and decentralization for long-term investors.
A clear trend towards increased regulation of stablecoins is observed, which may lead to the creation of a new class — dark stablecoins, capable of ensuring decentralization and protection against censorship.
