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George Leonardo
@caphillcrypto
Newsletter this week covers new STABLE Act intro, DeFi broker rule repeal vote, three new crypto-related bills, and more.
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oaktoebark.base.eth
@oaktoebark
What the TL;DR for stablecoin act?
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George Leonardo
@caphillcrypto
STABLE would require payment stablecoin issuers to back stablecoins w/ liquid reserve assets on at least a 1:1 basis, disclose reserve asset info, and comply with the BSA and rules relating to capital, liquidity, and risk-management. Issuers could not pay interest or yield to stablecoin holders.
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oaktoebark.base.eth
@oaktoebark
That’s bananas to not let issuers pay out risk free rate in rewards.
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