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if this bill passes through it would mean $UST will be prohibited in the USA. Could you elaborate on the matter?

decrypt.co

Proposed Bill Would Require Stablecoins to Be Backed by Dollars, Government Securities - Decrypt

Representative Trey Hollingsworth and Senator Bill Hagerty have introduced the Stablecoin Transparency Act.

Do Kwon

@stablekwon

Replying to

@ArtonSchon

Why would i care

7:08 AM · Apr 2, 2022Twitter for iPhone

Replying to

So you wouldn't mind $UST being prohibited in the USA and probably the EU shortly after? The bill says stablecoins to be fully backed by a combination of U.S. dollars and "government securities with maturities less than 12 months" (i.e., bonds).

Arton Schön

@ArtonSchon

Apr 2

Surely the bill hasn't passed yet. But it seems concerning for $UST.

Replying to

Maybe you don't care because it's all just one big #Bitcoin buying scheme primarily, with $UST being a means to an end?

Earth and Moon

@DefiManic

Apr 2

dude its talking about fiat backed stablecoins not algorithmic ones. Thats why he doesnt care. Read the article

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