curious gurnoor

I stumbled upon an interesting discussion over brunch and later on with the Placeholder team about stablecoins and what major American political parties think about them. Until centralized stablecoin issuers continue to dominate the stablecoin markets, why are they not being more aggressively welcomed by regulators? Major centralized stablecoin issuers (Tether and Circle) hold a decently large share of U.S. treasuries as collateral for their stablecoin issuing services. Demand for USD-denominated stablecoins are only increasing, so demand for U.S. treasuries by these issuers will also increase, thereby strengthening government economic security. As stablecoins increasingly capture mindshare, it makes logical sense for regulators to step in and establish frameworks that support this cyclical value capture. Some of the cautious approaches entail capping how many dollars worth of stablecoins can be issued and who can issue them. This seems contradictory to the value stablecoins provide fo

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• Tommy Hang