13 min listen
Why Stablecoins Are the First Battleground of the Coming Crypto Regulation Wars
FromThe Breakdown
ratings:
Length:
26 minutes
Released:
Dec 4, 2020
Format:
Podcast episode
Description
On Wednesday, three U.S. congressional Democrats announced the STABLE Act, an 18-page bill that would require, among other things, stablecoin issuers to acquire banking charters, get approval from the Federal Reserve and hold FDIC insurance. The bill’s authors claim stablecoins represent a continuation of the shadow banking system that preys on poor communities. The crypto industry argues this overly burdensome would not only stifle innovation but ensure the only players in this new space are the deep-pocketed fintechs with the resources for compliance. In today’s episode, NLW argues this is more than just another bill that will go nowhere in Congress, it’s the opening salvo of a new set of arguments that will define the next face of regulatory battles for the entire crypto industry.
Released:
Dec 4, 2020
Format:
Podcast episode
Titles in the series (100)
Crypto Daily 3@3 - 7.10 | Alt Season Dreams & Nightmares | New Crypto Funding | Mr. Libra Goes To Washington: We discuss: 1) the chatter around a potential alt season and what makes things different this time around; 2) new financing that shows where crypto investors heads are at (hint: infrastructure not apps); 3) the latest salvos between Libra and... by The Breakdown