Weekly Roundup 09/24/21 (Regulators keep talking about Free Banking, Twitter rolls out LN support, Biden's new OCC nominee) (EP.243)
On The Brink with Castle Island
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Stable Corn Issuers Are Not Banks
stable coins are not banks in the traditional sense. They typically just hould high quality liquid assets on a one to one basis. Ith banks, you know, have a varying degree of maturities. So we're going to need a new type of charter, though,. because stable coins aren't really doing maturity transformation. Well, it'll have to be taken to court if it goes that direction. It looks like a number of these stable corn issuers are leaning in to the idea of being banks - so that something that maybe a defensive measure but looks like that's where the wind is blowing.
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