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This bill will BAN "illegal" stablecoins! Unlisted

Published on 04 Dec 2020 / In Crypto

Yesterday a disastrous new bill was introduced to congress:
The STABLE Act, which stands for Stablecoin Tethering and Bank Licensing Enforcement.

Under the guise of "protecting people" it will require stablecoin issuers to obtain a banking charter. Meaning, only banks will be able to issue stablecoins.

They said: “Digital currencies, whose value is permanently pegged to or stabilized against a conventional currency like the dollar, pose new regulatory challenges while also represent a growing source of the market, liquidity, and credit risk.”

Indeed it does seem highly suspicious that the act seems to further entrench the interests of juggernauts like JP Morgan Chase, a bank that already has its own stablecoin, to the detriment of those who are looking for alternatives to the banking system rather than forced participation in it.

By C. Edward Kelso and Naomi Brockwell
To find more of Kelso's work, visit @cryptokelso or coinfugazi.com

If you would like to send me a message and support my channel, visit https://cointr.ee/naomibrockwell

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Recommended Books:

Permanent Record - Edward Snowden

No Place to Hide: Edward Snowden, the NSA, and the U.S. Surveillance State - Glenn Greenwald

What has the government done to our money - Rothbard

Naomi's Privacy Bag: some of my favorite products to help protect your privacy!

Use the Brave browser! https://brave.com/nao076

USB-C to ethernet adapter:

Lightening to ethernet adapter:

Faraday bag wallet (signal stopping, to protect your fob, credit card, and phone)

Data Blocker (if you're charging your phone in an unknown port, use this so that no data is transferred)

Computer privacy screen (use your computer in public? Keep your information safe!)

Phone privacy screen (don't let people in public see your private data)

Camera cover (for computers and phones, so no one can access your camera without you knowing)

Privacy Tip: Don't use wifi, and if you must, append the tag ‘_nomap’ or ‘_optout’ to your SSID to stop other websites tracking your location.

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