The US Treasury is Terrified of Stablecoins

Are you bored of hearing about FATF and regulations? It probably isn’t even on your radar right now. And let’s face it there are a thousand other entry points to this space that are just frankly, a lot more interesting. Thing is though, here at the Defiant we can’t afford to ignore it. For the longest time DeFi has been this niche corner of the cryptoverse, populated by weirdos, wonks and degenerates. But we’re about to be thrust into the very frontline of the battle for the soul of this entire space. With Zuckerberg announcing Meta and the Web2 behemoth’s plan for global domination it’s going to put this weird little corner of ours even more into the spotlight. Stablecoins are literally the backbone of DeFi and this conversation will shape the future of the entire crypto space in ways that eclipse Bitcoin’s spectacular rise to legitimacy. Stablecoins are the sinequanon of Web3 and the US Treasury seems to be absolutely petrified of them. So, if this subject bores you rigid, I’d urge you to just watch this one video. I’ve tried to keep it short and sweet because… well DeFi just hit the big time.

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Links
https://home.treasury.gov/system/files/136/StableCoinReport_Nov1_508.pdf
https://www.fatf-gafi.org/media/fatf/documents/recommendations/Updated-Guidance-VA-VASP.pdf'
https://www.reuters.com/technology/yellen-says-us-must-move-quickly-establish-stablecoin-rule-framework-2021-07-19/
https://www.coindesk.com/business/2021/10/05/sec-subpoenas-usdc-stablecoin-backer-circle/
https://blog.coinbase.com/the-sec-has-told-us-it-wants-to-sue-us-over-lend-we-have-no-idea-why-a3a1b6507009
https://www.centre.io/hubfs/pdfs/attestation/2021%20Circle%20Examination%20Report%20September%202021%20Final.pdf?hsLang=en
https://www.diem.com/en-us/white-paper/

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