The violent death of TerraUSD and Luna!

  • regulators need to have oversight of stablecoins to protect people — the biggest supporters of the crypto and majority of the users of cryptocurrencies (and stablecoins) are “young, unbanked and non-whites” who are likely more susceptible to crypto theft or scams. The speech cites the .
  • regulating stablecoins is needed to protect the dollar’s status as the world’s’ reserve currency — As all transactions become more digital and stablecoins becomes the primary medium of transaction in the blockchain digital economy takes hold, they could become more attractive than the US dollar and undermine the status of the dollar as the reserve currency of the world.

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