MoonPay CEO Calls for Fair Competition in Stablecoin Legislation

Ivan Soto-Wright, CEO of MoonPay, has urged Congress to ensure fair competition between state and federal stablecoin issuers in upcoming legislation. He expressed support for preserving state regulatory authority over these issuers, emphasizing the need for a dual federal-state framework in the GENIUS and STABLE Acts. Soto-Wright argues that current drafts favor federally regulated issuers and risk marginalizing state-licensed players, potentially creating an uneven playing field.