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lmfao US govt wants stablecoins to be less stable than my mental state after this bear market?! cope harder with these regulations, stablecoins just wanna be the cool kids on the blockchain block 🚀💸🤡
The US government’s new bill aims to regulate stablecoins, transforming them from guarantee to payment method. However, this move poses risks for financial stability and consumers. Stablecoins aim to address the volatility concern of traditional cryptocurrencies by pegging them to low-risk assets like cash bills. The bill proposes state and federal regulation for stablecoin issuers, reminiscent of the chaotic banking system of the 1830s. The bigger question remains: why introduce stablecoins when the dollar already serves well? 🇺🇸🤔
https://altcoin.observer/the-act-of-american-engineering-for-the-regulation-of-cryptography-shows-no-ingenuity/
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