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Will The Stable Act ban Stablecoins?

1 946 views | 5 Dec. 2020

00:00 Intro

00:27

00:00 Intro

00:27 The Stable Act

03:54 The issue with the Stable Act

08:48 Summary & Conclusion

A couple of days ago, a bill titled "The Stable Act" was introduced. The alleged purpose of this bill is to regulate Stablecoins in order to protect consumers. After reading the Bill I came to the conclusion that it's basically trying to do the opposite. They want to force all Stablecoin issuers to become a member of the Federal Reserve, the Central Banking system of the United States, and give them full control.

Link to the Stable Act: https://tlaib.house.gov/sites/tlaib.house.gov/files/STABLEAct.pdf

#StableAct #Stablecoins

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Eduardo Werner

do you recommend stacking DAI right now?

Mr Straiban

All of the shown excerpts are about the stablecoin issuance and not the usage. So this would make sure that the stablecoins are provably backed by real assets but the coins could still be sent to Somalia or to defi applications or whatever. The main negative issue with the bill in my opinion is that it basically prevents stablecoins like DAI that are based on smart contracts.

CryptoUp

Thanks for the clarification bro! Subbed :) Great to see another crypto youtuber

Philippe Dumonet

Will the Stable Act affect decentrally issued stable coins such as sUSD or DAI?

Crypto Assimilation

If that's the case then I want to see a gold nugget for every dollar printed in the U.S and it should be audited by the IMF. That would be a fair weight (Justice).

Rahul Thorat

Need your understanding in current crypto situation. How you managing the correction which gonna come in few days.

Carles Cortés Costa

keep up the good work !

Nicola Trace

Please start accepting donations via your own coin on mintme

Nathan Wilson

AOC and Tlaib are fake progressives, this bill is intended to hurt poor black and brown ppl who are locked out of central banking system. Disgusting

kawaifreefire Frota

When stable act?

Eternal Cryptoptimist

Hey Sam! If you are interested , I would REALLY like to have you on my Bankroll Flow Team (on Tron) and I will send you $100 worth of BNKRX tokens to deposit so you can play around with it and maybe do a review at some point. The platform has been around for over 2 years and just added the Flow dAPP. It pays out 1% of the tokens you deposit daily and, if you join my team I will show you a trick to get 30% extra tokens every time you ROLL your rewards back into the platform and 10% extra every time you CLAIM your rewards. The price of BNKRX has went from 12 TRX less than a week ago to over 24 TRX today so there is a lot of potential here. I appreciate all the videos you produce. Very informative! I hope to hear from you!

Dee Pak

Hy Sam, always clear and useful info. May I ask what do you think about fearless wallet should integrate polkaswap and it's manged by Sora echosystem development for polkadot/kusama

mugabuga

I read the master account bit the other way around, it says that the Fed has to give the stablecoin issuer a master account and access to the benefits that the Fed account offers

drive one

is it safe to hold stable coin, if then which one is safe to hold

George Apostolou

I would like to ask a question if you can help me. Assuming that Central bank bans stablecoins. How will this affect all the other cryptocurrencies? will all the cryptocurrencies now start trading with reference only to the USD currency and not TUSD or BUSD, hence there will not be any major effect?

Dee Pak

Poor gov. institutions since march they all crave for our health and financial security.... lovely

Salim Ettani

I absolutely agree with you. The mafia banksters in place cannot stand an exchange system they have no control upon. So yes, they will attack the crypto fiercely all along under the justification that they love and protect us

Nathan Wilson

JP Morgan are criminals. Just fined 1 billion dollars for fudging gold price. USD and fed destroy and drop bombs on countries, sanction them to control money. Defi is peaceful that's why they hate it.

Stable coins

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Cryptocurrency Stable Coins:: Ep 3 of 3 - Different Types of Stablecoins and How to Use Them

6 370 views | 11 Oct. 2018

Reviewing the best

Reviewing the best Cryptocurrency Stable Coins of 2018 and understanding the 3 types of coins, how they work, the good and the bad and when and how to use stable coins as part of your crypto and bitcoin investing and trading.

For help doing Your Own Research, ? Download my DYOR Guide for Free: http://go.marketdisruptors.io/CSC-DYOR

To be notified daily "What" coin to buy and know when to sell it, check out http://go.marketdisruptors.io/CSC-Signals today!

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Disclaimer: I am NOT a financial advisor, and nothing I say is meant to be a recommendation to buy or sell any financial instrument. I will NEVER ask you to send me money to trade for you. Please report any suspicious emails or fake social media profiles claiming to be me. Don't invest money you can't afford to lose. There are no guarantees or certainties in trading or investing.

My videos may contain affiliate links or sponsorships to products I believe will add value to your life and help you in trading. No matter what I or anyone else says, it’s important to do your own research before making a financial decision involving cryptocurrencies.

#stablecoins #cryptocurrency #beststablecoin2018

JASON M

Can I buy a stable coin with a credit card .without having to buy another coin like Bitcoin first.just buy the stable coin directly.

shawn thomas

Hey Mark. As always great video. I'd like to see an updated video on fundamentals and how we are paving the way to bigger money coming into the market again to give me some confidence to keep hodlin'. I am optimistic in crypto long term (whatever long term means in crypto terms) but I gotta admit it pains me to know how much I am down in my hodlin' account.

The Crypto knight

another excellent video and a great series , looking forward to the next one mark !

tommyb

Thank you for the great content!

You mentioned gold stocks and physical gold... are there any other good store of values that you like or that we should consider having in the portfolio?

PE D

No 'how to use' stable coins....waste of time as that's what I wanted to know. HOW (WHEN) do we USE stable coins (maybe run through a transaction example). Thx

quan hoang

Don't choose paxos guys...or one day you will see that your coins are frozen

Kalli Lopitole

Stable coins sometimes are very useful, when I can not or don't want to get fiat, I usually buy tether

Michael Paul

Thanks for your explanation Mark and all the research. I always appreciate it when you tell us what you are doing!

Kema Wellington

Awesome stuff Mark ! Very impressed with your level of knowledge. I personally just trade bitcoin on Coinbase Pro and go in and out of BTC and USD as it's much more convenient.

Anyway, curious to hear your thoughts on BTC vs BCH vs BSV ? ?

Hakan G

Great vid...Again. Q: Would you use Tether as a safe haven right now with all the controversy? Do you think it's safe?

Bhakti

Good solid info i'm going to go back a review 1 and 2.

Chris Lawrence

Great video series Mark. Best content on You Tube. I learnt a lot.
Guys - please don't be stingy with the Likes/THUMB UP. Credit where credit is due.

polotx2000

Perfect timing Mark, we need this now more than ever.

MIKEL ARENAZA

there are so many different stablecoins at the market however they all have one idea of being backed up to USD. what is the difference then between all of them? i understand that tether was a pioneer at this market however why projects like trueusd or PAX really exist

Mark Moss

Make sure to leave a ? THUMS UP and SUBSCRIBE, I do this for you, leave your comments ? and let me know what the next topic should be. Thank you for watching ?

steven de steven

Awesome stable-coin series! Also like the history facts in many of your videos.

GEO Alberta

Man i' am way late to cryptocurrency's lol

John

Very informative Mark. I knew nothing other my use of USDT for day trading. I like what you said about being able to store TrueUSD on the Ledger and off the exchange, I had no idea. I have been storing my USDT on Binance. Which stable coin do you prefer to use?

Jim Viau

I'm new to your channel and I think it is of an exceptional quality both in terms of content and clarity. My goal is to get involve in active crypto trading. My problem I don't trust exchanges. Did you make , so far, a presentation on how to know which exchanges are trustable? If so , can you pls guide me to these videos?

Best Content

Hello. If I invest in Stablecoin, will my money lose value during inflation?

KBeez

⭐️⭐️⭐️⭐️⭐️ Ok now I need to show this to the fam and watch it two more times! ? We’re a family of newbies to crypto (and actual finance in general) better late than never! I want my boys to not make the same mistakes we’ve made. Been taking a crash course on YT since April. Your videos are awesome thank you so much.

click411

did they regulate where in the usa you can not exchange tether back into dollars?? if not where can you exchange usdt into usd and where do you exchange dollard into tether?? also did you say on true usd you can exchange back into dollars on the site

David G

Keep doing your thing Mark.

Nice series

M M

I have been looking for something pegged to gold, very interested in DGX, thanks for sharing this info Mark. This videos are great, really looking forward to the next one.

ru42112

So USDT price varies because it's following the value of the dollar on that day? Or is there more to it?

ru42112

I just found out Gemini has a stable coin now. GUSD but it is on the ETH network. How come tether and others are paired with other coins like btc ect. I get the one to one part. Are they using ethereum network for transparency of the contract. Or they just haven't got around to other pairs.

Varshini Music

Nice

XOGTEBIYE SHOW

good talent

Liquidtravel TV

Have you ever heard of stronghold USD would love to get your thoughts if you have

Olajuwon Somuyiwa

What is your opinion on the value of stable coins in a financial crisis or economy meltdown.... What will the value of dollar backed stable coins ? which stable coin do you think will stand the test or could be beneficial in this case?

Justin Scorcese

For the last 9 months, I have been telling people to take a look at USDQ... But they just never listen.