exciting to see moves by and others to regulate and license stablecoins by ensuring that they are backed 1:1.
Stablecoins hold huge promise for payments and finance, and regulatory oversight and clarity can give them the trust and safety they need.
Conversation
The most important aspects of this are:
1) audit reserves
2) make sure that you don't need to be a bank to be minting them (though reserves are prob at a bank!), or we might get stuck with no one actually able and willing to issue them
Replying to
who audits the bank reserves? lol
they can shove the regulation where they found it
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