Road to a $3.7 Trillion Stablecoin Market Is Full of Obstacles

The passage of stablecoin legislation in the US Senate marks a huge leap forward for the potential mainstreaming of cryptocurrencies that track the US dollar one-to-one.

Yet there are still big problems to solve before many businesses can capitalize on the opportunities that are arising. Now, stablecoins are taking the leap from their original use as crypto-market poker chips to common mediums of exchange, offering merchants and consumers cheaper and more efficient payments systems.

Among the hurdles getting in the way of the hype: An uneven regulatory environment between major markets like the US and the European Union that ...