This bill will BAN "illegal" stablecoins!
Yesterday a disastrous new bill was introduced to congress:
The STABLE Act, which stands for Stablecoin Tethering and Bank Licensing Enforcement.
Under the guise of "protecting people" it will require stablecoin issuers to obtain a banking charter. Meaning, only banks will be able to issue stablecoins.
They said: “Digital currencies, whose value is permanently pegged to or stabilized against a conventional currency like the dollar, pose new regulatory challenges while also represent a growing source of the market, liquidity, and credit risk.”
Indeed it does seem highly suspicious that the act seems to further entrench the interests of juggernauts like JP Morgan Chase, a bank that already has its own stablecoin, to the detriment of those who are looking for alternatives to the banking system rather than forced participation in it.
By C. Edward Kelso and Naomi Brockwell
To find more of Kelso's work, visit @cryptokelso or coinfugazi.com
If you would like to send me a message and support my channel, visit https://cointr.ee/naomibrockwell
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Here are a bunch of products I like and use. Using these links helps support the channel and future videos!
Recommended Books:
Permanent Record - Edward Snowden
https://amzn.to/305negc
No Place to Hide: Edward Snowden, the NSA, and the U.S. Surveillance State - Glenn Greenwald
https://amzn.to/2UQmJ4m
What has the government done to our money - Rothbard
https://amzn.to/2KMzmcu
Naomi's Privacy Bag: some of my favorite products to help protect your privacy!
Use the Brave browser! https://brave.com/nao076
USB-C to ethernet adapter:
https://amzn.to/2lOVBoy
Lightening to ethernet adapter:
https://amzn.to/2nWyNns
Faraday bag wallet (signal stopping, to protect your fob, credit card, and phone)
https://amzn.to/2SUkPhu
Data Blocker (if you're charging your phone in an unknown port, use this so that no data is transferred)
https://amzn.to/2SVh0J2
Computer privacy screen (use your computer in public? Keep your information safe!)
https://amzn.to/2SXYHmf
Phone privacy screen (don't let people in public see your private data)
https://amzn.to/2YyJMnH
Camera cover (for computers and phones, so no one can access your camera without you knowing)
https://amzn.to/2Mt7Hic
Privacy Tip: Don't use wifi, and if you must, append the tag ‘_nomap’ or ‘_optout’ to your SSID to stop other websites tracking your location.
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