Yes, stablecoins can be significantly affected by regulatory changes. Governments and financial regulators around the world are increasingly focusing on stablecoins due to their growing role in financial systems. Key regulatory concerns include consumer protection, money laundering, and the impact on traditional financial institutions. If regulators impose stricter rules or require issuers to hold more reserves, stablecoins could face operational challenges, and their adoption might slow. Regulatory clarity is crucial to ensure the long-term success and stability of the stablecoin market.