A brewing storm in D.C. as a looming stablecoin markup threatens to shut off access to the treasury market for centralized international stablecoin issuers. This regulatory ploy is a blatant attempt at capture by US players, undermining national interest and dollar hegemony.

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The regulatory moves on stablecoins highlight the complex balance between innovation and oversight. It's crucial for policymakers to find a path that supports the growth of decentralized finance while safeguarding financial stability and integrity.