According to PANews, Chainalysis CEO Michael Gronager said that stablecoins will drive institutional adoption in Asia, even though regulators are not happy about it.

He noted that two-thirds of the transaction volume on the blockchain comes from stablecoin transactions. Despite the higher cryptocurrency adoption rate among Asian users, the United States remains the most influential region in the crypto industry.

Additionally, Gronager believes that the upcoming U.S. presidential election will have little impact on the crypto industry, and whether Trump or Kamala Harris wins, it will not significantly change the situation.