With MiCA in the EU & the GENIUS Act in the US, among other legislative initiatives requiring 1:1 reserve ratios, it would seem the death knell of the algorithmic stablecoin may be blaring like a claxon 🔔

With MiCA in the EU & the GENIUS Act in the US, among other legislative initiatives requiring 1:1 reserve ratios, it would seem the death knell of the algorithmic stablecoin may be blaring like a claxon 🔔 
https://www.davispolk.com/insights/client-update/stablecoin-bill-first-out-gate-crypto-legislation-gains-momentum