64 sats \ 1 reply \ @freetx 10 May \ parent \ on: Lightning Labs Announces Stablecoins on Bitcoin Lightning Network bitcoin
One can never predict how these things will go. But I'm leaning 70/30 that they will not treat stables as a security.
For reference, EuroDollars are effectively the 90s/2000s version of stable coins. That is dollar IOUs created outside of the Federal Reserve System.
In the end, the Fed saw that such a system strengthened the dollars network effects -- and more importantly -- the wider userbase allows them to print more with less inflation to US domestic market.
For similar reasons, I think they will come to same conclusion with Stables.
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40 sats \ 0 replies \ @siggy47 10 May
Maybe. As you know, though, the eurodollar is an oddity. They ARE US dollars, even though they are issued overseas. So they are actually US currency. Stable coins are not. They are pegged to the dollar. Some are backed by dollars, which almost certainly makes them an asset based security.
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