create account

This bill will BAN "illegal" stablecoins! by skycorridors

View this thread on: hive.blogpeakd.comecency.com
· @skycorridors ·
$4.51
This bill will BAN "illegal" stablecoins!
https://youtu.be/WCC7atpELc4
https://open.lbry.com/@NaomiBrockwell:4/This-bill-will-BAN-illegal-stablecoins:d?r=FDreZsjE2C4VBDAr8tVX1a56tJRe5Hpq

Yesterday a disastrous new bill was introduced to congress:
The STABLE Act, which stands for Stablecoin Tethering and Bank Licensing Enforcement.

Under the guise of "protecting people" it will require stablecoin issuers to obtain a banking charter. Meaning, only banks will be able to issue stablecoins.

They said: “Digital currencies, whose value is permanently pegged to or stabilized against a conventional currency like the dollar, pose new regulatory challenges while also represent a growing source of the market, liquidity, and credit risk.”

Indeed it does seem highly suspicious that the act seems to further entrench the interests of juggernauts like JP Morgan Chase, a bank that already has its own stablecoin, to the detriment of those who are looking for alternatives to the banking system rather than forced participation in it.

By C. Edward Kelso and Naomi Brockwell
To find more of Kelso's work, visit @cryptokelso or coinfugazi.com

If you would like to send me a message and support my channel, visit https://cointr.ee/naomibrockwell

Sign up for the free cryptobeat newsletter here:
https://Naomibrockwell.com/cryptobeat

Sign up for the members-only newsletter here and get access to exclusive content by becoming a member of NBTV!
https://Naomibrockwell.com/memberships
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 80 others
properties (23)
authorskycorridors
permlinkthis-bill-will-ban-illegal-stablecoins
categorycrypto
json_metadata{"tags":["crypto","cryptocurrency","regulation","bitcoin","stablecoin"],"users":{},"image":{},"links":{},"app":"hiveblog/0.1","format":"markdown"}
created2020-12-04 03:46:09
last_update2020-12-04 03:46:09
depth0
children6
last_payout2020-12-11 03:46:09
cashout_time1969-12-31 23:59:59
total_payout_value2.620 HBD
curator_payout_value1.892 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length1,439
author_reputation267,955,594,890,221
root_title"This bill will BAN "illegal" stablecoins!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id100,803,047
net_rshares25,243,439,360,142
author_curate_reward""
vote details (144)
@chekohler ·
I guess it will just make algorithmic stable coins and platforms like curve a lot more popular if this goes through, I feel like all regulation does is drive more innovation from the community 
properties (22)
authorchekohler
permlinkre-skycorridors-qksycv
categorycrypto
json_metadata{"tags":["crypto"],"app":"peakd/2020.11.4"}
created2020-12-04 06:36:33
last_update2020-12-04 06:36:33
depth1
children1
last_payout2020-12-11 06:36:33
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length193
author_reputation524,332,427,393,665
root_title"This bill will BAN "illegal" stablecoins!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id100,804,237
net_rshares0
@skycorridors ·
Indeed, decentralized stablecoins are definitely an important part of our future
properties (22)
authorskycorridors
permlinkql5vmk
categorycrypto
json_metadata{"app":"hiveblog/0.1"}
created2020-12-11 06:06:21
last_update2020-12-11 06:06:21
depth2
children0
last_payout2020-12-18 06:06:21
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length80
author_reputation267,955,594,890,221
root_title"This bill will BAN "illegal" stablecoins!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id100,904,394
net_rshares0
@felix.herrmann ·
[Tether](https://coinmarketcap.com/currencies/tether/) definitely needs som audit.
Don't know about the rest (USDC, DAI, BUSD,...)
properties (22)
authorfelix.herrmann
permlinkqkt1hn
categorycrypto
json_metadata{"links":{},"app":"hiveblog/0.1"}
created2020-12-04 07:44:15
last_update2020-12-04 07:44:15
depth1
children0
last_payout2020-12-11 07:44:15
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length130
author_reputation103,678,913,103,209
root_title"This bill will BAN "illegal" stablecoins!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id100,804,758
net_rshares0
@offgridlife · (edited)
Hey. Are you on Blurt yet ? It’s the one to watch. See you there https://Blurt.blog/@skycorridors

https://youtu.be/gxygS0uA5Ag
properties (22)
authoroffgridlife
permlinkqkzgcn
categorycrypto
json_metadata{"links":{},"app":"hiveblog/0.1","image":{}}
created2020-12-07 18:50:48
last_update2020-12-07 18:52:06
depth1
children0
last_payout2020-12-14 18:50:48
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length127
author_reputation407,221,832,728,358
root_title"This bill will BAN "illegal" stablecoins!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id100,854,762
net_rshares0
@scholaris ·
Thank you for your post.  The STABLE Act doesn't appear to be promising at all.  I'll have to read up on it.  
properties (22)
authorscholaris
permlinkre-skycorridors-2020123t195828469z
categorycrypto
json_metadata{"tags":["crypto","cryptocurrency","regulation","bitcoin","stablecoin"],"app":"ecency/3.0.9-surfer","format":"markdown+html"}
created2020-12-04 03:58:27
last_update2020-12-04 03:58:27
depth1
children1
last_payout2020-12-11 03:58:27
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length110
author_reputation53,604,912,682,655
root_title"This bill will BAN "illegal" stablecoins!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id100,803,123
net_rshares0
@skycorridors ·
Yeah, it's not good news :S
properties (22)
authorskycorridors
permlinkql5vmw
categorycrypto
json_metadata{"app":"hiveblog/0.1"}
created2020-12-11 06:06:33
last_update2020-12-11 06:06:33
depth2
children0
last_payout2020-12-18 06:06:33
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length27
author_reputation267,955,594,890,221
root_title"This bill will BAN "illegal" stablecoins!"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id100,904,396
net_rshares0