Why Stablecoins Need to Be Regulated?

There's two different types of stablecoins. There's algorithmic ones and then there's acid backed ones, okay? And acids can be cash or bonds or whatever else. Luna was an algorithm one, but the Luna Foundation will help custody of those funds. So they were operating as effectively a bank managing the float for a coin. But you have to trust the underlying counterparty holding those funds. When something is not trustless, regulations should not apply.

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