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The Role of Stablecoins in the U.S. Financial System
This chapter examines the impact of stablecoins on the U.S. financial landscape and their potential to reshape the global currency hierarchy. It discusses the benefits of stablecoins over traditional banking, the risks associated with algorithmic stablecoins, and the need for robust legislation. The chapter also addresses privacy challenges in blockchain technology and the implications for both institutional and retail investors amidst evolving digital asset regulations.