BUSDUSDT
Binance USD / Tether USD
crypto

A narrow bank model, which Genius act stablecoins effectively are, is objectively better for payments for everyone except the incumbent banking oligopoly business model. Stablecoins are the same as a money market fund except for the fact you can self custody them and they are composable with permissionless financial primitives like lending/borrowing on a permissionless network, so patently distinguishable. You sued Paxos claiming BUSD was a security. Banks are lobbying against stablecoins passing along yield, Coinbase, for instance has at least publicly lobbied for it. Your agency is already giving special treatment to incumbent industry with nearly insurmountable barriers to competition/innovation which is why the shit still runs on COBOL and i get 0.07% yield on my demand deposits.

A narrow bank model, which Genius act stablecoins effectively are, is objectively better for payments for everyone except the incumbent banking oligopoly business model. Stablecoins are the same as a money market fund except for the fact you can self custody them and they are composable with permissionless financial primitives like lending/borrowing on a permissionless network, so patently distinguishable. You sued Paxos claiming BUSD was a security. Banks are lobbying against stablecoins passing along yield, Coinbase, for instance has at least publicly lobbied for it. Your agency is already giving special treatment to incumbent industry with nearly insurmountable barriers to competition/innovation which is why the shit still runs on COBOL and i get 0.07% yield on my demand deposits.