Former U.S. Senator Pat Toomey said that a number of unresolved issues are slowing down the adoption of the law on the regulation of stablecoins in the United States. Among the main problems, he noted a lack of clarity on the issues of bankruptcy of issuers, reserve requirements, deposit insurance and the definition of regulatory jurisdiction.

According to Toomey, the US Federal Reserve remains reticent about technology, which complicates negotiations. Nevertheless, he expressed confidence that progress is possible in 2025 after the resolution of current political issues.

The problems in the regulation of stablecoins underline the importance of creating a reliable legal framework to avoid major market crises like the collapse of FTX.