Recent advancements in financial innovation have laid bare shortcomings in current U.S. policy regarding stablecoins, which fails to strike the delicate balance of promoting financial innovation without sacrificing consumer protections.
Recent advancements in financial innovation have laid bare shortcomings in current U.S. policy regarding stablecoins, which fails to strike the delicate balance of promoting financial innovation without sacrificing consumer protections.
@SenLummis Then why did you submit a bill prohibiting algorithmic stable coins? Just leave them out of the bill and allow the innovations to proceed.
@RichardMcCrackn @SenLummis Would be nice to get a response. As she’s a prominent and well respected figure in crypto. What is the reasoning behind this?
@RichardMcCrackn @SenLummis Because she's a BTC maxi.
@RichardMcCrackn @SenLummis I think you have to distinguish between algo coins (Luna UST) and overcollat coins (Shen Djed)
@RichardMcCrackn @SenLummis I think it's because of the collapse of LUNA & UST, they are taking algo stablecoins as a serious potential risk. Also, there's ton of innovation in the algo stablecoin space that's its also hard for regulators to understand well enough to regulate them