Since 2017, the most prominent real-world application of crypto has undoubtedly been on-chain stablecoins.

The two stablecoin regulatory bills currently under review in May this year will serve as powerful catalysts for a bull market.

Both bills focus on establishing a federal regulatory framework for stablecoin issuers, and once passed:

1) It will increase traditional finance and institutional investors' confidence in crypto, attracting new users and capital inflow.

2) It will bring about a transformation in cross-border payments.

3) Compliant stablecoins will attract more market share, leading to the survival of the fittest and increased safety.

3) It will stimulate innovation in DeFi protocols.