Morgan Stanley warns: tariff risks are ahead, not behind - Markets have shown an incredible recovery from the tariff-induced lows in April.
The State Duma has passed a law legalizing cryptocurrency in the Russian Federation - Retail investors will be able to purchase the most liquid digital assets up to 300,000 rubles per year through a single intermediary.
According to him, the transformation of fiat currencies will be part of the process of transitioning the global financial system to blockchain.
"All currency will become a stablecoin. Even fiat currency will be a stablecoin. They'll just call it dollars, euros, or yen."
Collins is confident that within the next five years, these digital equivalents of traditional money will become the primary means of payment, as their advantages for the financial system can no longer be ignored.
"Probably even sooner, because you'll still be using dollars. But a lot depends on how you define a stablecoin. Essentially, a stablecoin is the movement of money on a blockchain."
In his opinion, the most important event this year for the crypto market is the shift in the US government's attitude toward the industry. He noted that major players in traditional finance have long been wary of entering the cryptocurrency sector due to the risk of regulatory challenges. Now, despite the continued uncertainty in the sector, the White House administration's policy has become much more liberal. Tether's co-founder emphasized that this move has opened the door to traditional finance: mass interest has entered the industry, and stablecoins have become central due to their efficiency.
"Every major organization, every bank—everyone wants to create their own stablecoin because it's profitable and simply the best way to conduct transactions. These gateways are open, and soon there will be no separation between CeFi and DeFi."
Collins expects the emergence of services that combine funds transfer, lending, and investment functions. According to him, such products will combine traditional financial instrument models with innovative approaches from the decentralized finance (DeFi) sector.
Earlier, Robinhood CEO Vlad Tenev stated that in the future, everything will be on the blockchain in one form or another, and after a complete merger, the line between cryptocurrency and traditional finance will disappear completely.