What You Need to Know About Biden's Stablecoin Report
The Breakdown
00:00
Stable Coin Issuers - Is Paxos an Insured Depository Institution?
Stable coin issuers should be required to get full banking charters to issue stables, and that they would need to be f d i c insured s. That kind of burden is something that even money market funds couldn't meet. The term insured depository institution means any bank or savings association, the deposits of which are insured by the f t i c. It's a hurdle much greater than even the most cautious and well regulated current stable coin issues. And it would still need different approaches for unchained tokens like die.
Play episode from 10:55
Transcript
