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
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do you recommend stacking DAI right now?
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.
Thanks for the clarification bro! Subbed :) Great to see another crypto youtuber
Will the Stable Act affect decentrally issued stable coins such as sUSD or DAI?
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).
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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.
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.
another excellent video and a great series , looking forward to the next one mark !
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?
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