US Congressman McHenry Praises Stablecoins, Calls Them Vital To 21st-Century Payments
Paypal announced the launch of PYUSD shortly after the House Financial Services Committee passed the Clarity for Payment Stablecoins Act, a bipartisan legislation that paves the way for regulated stablecoin issuers, ensuring consumer protection and establishing a uniform federal framework.
We all need protecting from the protectors. That particular mantra is insulting to any thinking being.
Chairman McHenry flies the flag with verve.
We are currently at a crossroads to keep America at the forefront of digital asset innovation. Congress is making significant, bipartisan progress on legislation to ensure the U.S. leads the financial system of the future. We must finish the job.
Such stablecoins will be at the state level; this is really going backwards to old currencies before the enforced hegemony of the US Dollar.
With the backing of regulatory clarity, stablecoins could provide a robust foundation for the future of payments, offering benefits such as increased efficiency, accessibility, and financial inclusion.
These people just vomit the same bile all day long; could be the climate scam or the virus hoax - always the same. I mean, all those three benefits already exist without such financial innovation. Most people here are happy to pay for everything with their spyphone as it's so convenient to be disconnected at checkout. This is all happening without crypto, so what does crypto bring to the party?
Programmable money.
Surveillance economy.
Safety for Life.
One of the best recent interviews
without the maximanalist gush.
Another thing I mentioned when the whole rate-hike started; the idea of a "free market" is just a joke, it's propaganda - everything is a regulated market. And it is the bankster regulators who created this sudden banking issue by rating much sovereign debt as "zero risk". Sure, maybe zero risk of default, but no financial instrument is truly zero-price-risk!!
Just one more facet of the global scamdemic.
The IMF's Unprecedented Trail of Despair | Unveiling the Shocking Truth
full video available
found the book that was quickly flashed up.
https://store.bitcoinmagazine.com/products/hidden-repression
HIDDEN REPRESSION
How the IMF and World Bank Sell Exploitation as Development
by Alex Gladstein
standard psychopathic MO, as described in Political Ponerology - every agency does the opposite of what it claims - every single fetid one of them.
Penn Scrip.
There were also many private coins, often mining tokens, but all based on whatever the state currency.
Never forget the real and stated aim: programmable money.
THAT is the innovation - imagine your paper money refuses to come out of your wallet as you're about to pay for your third bottle of vodka of the night. A sober drone is a happy chappy.
Please bear with me — but cryptocurrencies are not currencies at all
https://blockworks.co/news/cryptocurrency-production-capital
But some are, and there's the rub!
This still needs sorting as it just hasn't been for years.
Some cryptos look like currencies, some like securities, some like utilities and some are something else - a function. The question is, what kind of function? And should platform separate their token functions with separate token names?
Can stablecoins save the US dollar?
https://www.coininsider.com/can-stablecoins-save-the-us-dollar/
No, but they can help transition to a IMF-SDR coin, without it dumping the USD.
orig article: Stablecoins Can Keep the Dollar the World’s Reserve Currency
https://www.wsj.com/articles/stablecoins-can-help-keep-the-dollar-the-worlds-reserve-currency-yuan-china-ef1047c
paywalled
like so much in crypto, programmed FUD until the banksters move in - then suddenly, it's a good idea! lame playbook, but seems to work.
Altho his macro focus is always interesting, he did miss the bounce from 15k to 30k.
bears wobbling
altho fair comment that stablecoins are used more as parking trading funds than for payments. hence PP influence may take time.
The "I told you so" video
Investors are massively redeeming hundreds of millions of Tether stablecoin (USDT)
for what?
not entirely sure, for USD itself. PYUSD?
That is quite funny; if you really wish to redeem USDT with the issuer itself, tether, then yeah, it's like redeeming your notes with a central bank...erm... can't get gold anymore! lmao.
"I promise to pay the bearer on demand the sum of ten pounds"
used to be gold, now is with another tenner. lol
$27 Million PayPal Tokenized Dollars Issued on the Ethereum Blockchain
https://www.trustnodes.com/2023/08/08/27-million-paypal-tokenized-dollars-issued-on-ethereum-blockchain
That's far short of that $325M out of USDT. Could be some lag.
Circle CEO addresses USDC liquidity concerns, welcomes PayPal move into stablecoins
https://cryptoslate.com/circle-ceo-addresses-usdc-liquidity-concerns-welcomes-paypal-move-into-stablecoins/
yes, of course, everyone just loves a bit of competition to shave off those profit margins.
Why would any sane company be all into the US of A!? Suicidal.
And yet again, signs that stablecoins are very much like eurodollars.