BlackRock and Wall Street involvement could legalize stablecoins in the US

"Stablecoins will become legal in the U.S. as BlackRock and Wall Street private banks get more involved in the market," Ryan Sean Adams, a prominent cryptocurrency investor, told X. "The U.S. has no political will to create a CBDC. "The U.S. does not have the political will to create a central bank-issued digital currency (CBDC). BlackRock and other Wall Street banks will install backdoors into stablecoins by acquiring, partnering with, or controlling crypto companies, and lobby for stablecoin legislation in the process. Once liquidity and legitimacy are established, cryptocurrencies will become an irresistible force." Previously, stablecoin USDC issuer Circle launched the USDC smart contract for BlackRock's first tokenized Bundled Bidl (BUIDL) investor transfer. This allows fund investors to convert their shares to the stablecoin at any time. BlackRock is also one of Circle's major investors, having entered into a strategic partnership in April 2022.