MoonPay CEO Advocates Fair Federal-State Balance in Stablecoin Laws

What’s Happening With Stablecoin Regulation?

Cryptocurrencies are changing how money works. At the center of this change are stablecoins. These are digital currencies tied to real-world money like the US dollar. People use stablecoins for payments, remittances, and savings because they offer predictable value.

But here’s the problem—rules around stablecoins are still unclear. Different states in the U.S. have started creating their own laws. At the same time, the federal government wants a more unified approach. This tug-of-war is making things complicated for companies and consumers.

That’s why MoonPay CEO Ivan Soto-Wright is speaking up.

Who Is MoonPay and Why Should You Care?

MoonPay is a financial technology company. It helps people buy and sell cryptocurrency easily. Think of it as a bridge between traditional money (like dollars) and digital money (like Bitcoin or stablecoins).

Ivan Soto-Wright, CEO of MoonPay, is becoming a vocal leader in the crypto space. And he’s not alone. More crypto leaders are starting to ask big questions about how these new technologies should be regulated.

The CEO’s Main Argument: Balance Is Key

Soto-Wright recently spoke at the House Financial Services Committee. His message was clear:

Both federal and state governments should work together when it comes to stablecoin laws.

Why is that so important?

If each state creates different rules for stablecoins, startups might struggle to navigate the legal maze. On the other hand, putting all the power in Washington could stifle local innovation.

What’s needed is a system that:

• Protects consumers
• Encourages innovation
• Prevents regulatory confusion

Soto-Wright believes regulation should be strong but not overbearing. It should support businesses while keeping users safe.

Why This Matters to You

You might not own stablecoins right now. You might not even use cryptocurrency. But you likely use digital payments—Apple Pay, Venmo, or PayPal. Stablecoins are just the next step in that evolution.

If done right, they could:

• Lower transaction fees
• Provide faster international transfers
• Make saving money more accessible

But if rules around stablecoins are inconsistent, that innovation could slow down—or never reach you.

What’s the Current Situation?

Right now, there’s no national rulebook for stablecoins. Some states, like New York, have built strict rules for crypto companies. Others are more lenient. This patchwork creates confusion.

The federal government has introduced bipartisan bills to try and fix this. These bills aim to:

• Give clear guidance on who can issue stablecoins
• Define what reserves stablecoin issuers must hold
• Explain how to check and audit these reserves

Soto-Wright praised these milestones but warned against giving the federal level all the power. He’s pushing for state governments to also play a meaningful role.

Why Not Let Just the Federal Government Handle This?

It’s a fair question. Federal laws offer uniformity. This makes it easier for companies to operate across state lines.

But if we look at how things work today with banks and credit unions, state regulators already play an important role. They understand the local economy and serve as checks on national policies.

The CEO’s idea is to take the best of both worlds:

• Let states continue to innovate and experiment
• Set strong nationwide standards everyone must follow

He warns that giving the federal government total control could reduce choice and competition, which could hurt startups and regular users alike.

Examples of How This Could Affect Real People

Let’s say you live in California and want to use a new mobile wallet that supports stablecoins. If California has one set of crypto laws and Washington has another, the app developers may avoid launching in your state altogether. That limits your access to new tools.

Or consider a small business owner trying to accept stablecoin payments. Without clear or consistent laws, they may put that idea on hold —just to avoid legal risks.

What Happens Next?

The debate isn’t over. Lawmakers are still discussing how to divide responsibilities between state and federal regulators. One possibility is a dual registration model, similar to how banks are regulated.

Soto-Wright suggests this could work:

• State agencies issue licenses and monitor compliance
• The federal government sets the minimum rules everyone must follow

That way, no one gets left behind in the rush to modernize money.

Takeaway: You Deserve Fair and Smart Rules

You don’t have to be a crypto investor to care about this. Just like debit cards changed how we pay, stablecoins could reshape personal finance. But only if the legal framework supports it.

Ivan Soto-Wright’s call for balance reminds us of something important—innovation shouldn’t come at the cost of clarity or fairness.

If we want a future where money moves faster, costs less, and serves everyone, we need thoughtful laws. Not too heavy. Not too loose. Just right.

So, next time you hear about stablecoin regulations, ask yourself:

Are these rules helping people like me?

Because they should. And that’s exactly what MoonPay’s CEO is fighting for.

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Got Thoughts?

What do you think—should your state have its own crypto rules, or should Washington take the lead?

Let us know how you’d like to see stablecoins governed. Because sooner or later, they’ll be part of your daily wallet—and your opinion matters.