Daniel Stabile recently was featured in a story by Yahoo Finance‘s editor in chief, Andy Serwer, exploring the advisability of including cryptocurrency as part of one’s investment portfolio.
While many view cryptocurrencies -- digital, non-government issued currencies that are secured by distributed cryptography, rather than a trusted third party – as overly volatile, others continue to be intrigued by their potential as a revolutionary technology that provides vast opportunities.
Currently, cryptocurrencies, such as bitcoin, amount to less than 5% of the world’s money supply. However, many expect that total to grow substantially, as technology companies continue to become powerful influences over the economy.
As time goes on, Daniel believes lawmakers will continue to sharpen their regulatory efforts in the space. Miami partner Daniel Stabile stated: “right now we’re past the wild west phase where we were living in a fairly unregulated environment. We’re in what I would characterize as an awkward phase.” “In the long run regulation will be a very positive thing for the industry as it continues to mature,” he said.
To read the full story, please click here.
About Daniel Stabile
Daniel Stabile is a partner in the Miami office of Shutts & Bowen LLP, where he is a member of the Financial Services Practice Group. The firm's Financial Services Practice Group has been recognized by Chambers USA as a Band 1 banking and financial practice area since its first publication. Daniel is a leading attorney in the distributed ledger and digital asset spaces. For several years, he has taught a course on the regulation of blockchain at the University of Miami Law School, and he authorized a first-of-its kind textbook on the subject: Digital Assets and Blockchain Technology: U.S. Law and Regulation (Elgar 2020).