Congress held a hearing for "fact-finding" around the future of #crypto in the national economy. The results were positive, what does this mean for we, the people?
Read the Round Up to see how the government and FinTech are building the financial future. bit.ly/3dCWI1W
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How come you sent me $25 Bitcoin and not the $40 you promised
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And will voyager support the BTT redenomination Sunday? No one at voyager ever responds
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The results were very good.
Many politicians don't understand the tech. That was made clear.
But they know the numbers. And they want the United States to be its center. There will be more laissez-faire and less legislation for a while. Maybe regs for stablecoin assurance only
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It was disappointing that Congress did not bring up or get told about the 0% reserve requirements for interest-bearing USDC accounts. This is one of the biggest concerns for people that are not in Congress and understand what's going on with the risk.
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(Banks Have a 10% reserve requirement currently So there can't be an infinite cascade of money withdrawn at once)
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