Micro Strategy co-founder and executive chairman Michael Saylor said in an interview that regulators object to stablecoins effectively allowing billions of dollars to circulate in "dark pools" that evade the controls and sanctions of the banking system. Stablecoins are a problem for them, and I don't think they're going to change their minds. According to Saylor, regulators have concluded that most crypto tokens are unregistered securities, manipulated by their issuers, who have not issued proper disclosures about these assets. Additionally, the FTX debacle was a catalytic event that led regulators to decide that cryptocurrency exchanges, cryptocurrency securities, and stablecoins do not really fit into a stable world financial system. But Saylor believes bitcoin will benefit once regulators clean up the cryptocurrency industry.