The chapter explores the evolution of stablecoins, from the initial intrigue in unbacked crypto assets to becoming recognized as on-chain money, with a focus on Facebook's Libra project. It delves into the regulatory challenges faced by stablecoin developments and the impact on central banks and the wider digital asset landscape. Additionally, the chapter discusses concerns around tether's lack of transparency in asset investments and contrasts it with the safe proposals of Libra.
Are stablecoins a threat to national security? How should the US government step in?
We brought Timothy Massad, the perfect guest to help us answer these hard questions. He was the Obama appointed chair for the CFTC, the guy who helped designate Bitcoin as a commodity over 10 years ago.
We touch on:
- The importance of stablecoins.
- How stablecoins compare to eurodollars.
- Weather crypto and sanctions can co-exist.
- A sensible policy for stablecoins.
- And finally, his thoughts on what happens next.
Timothy brings a whole different perspective from what we’re used to in our crypto bubble. That’s exactly why you should tune into this episode.