RE: 3 for Web3: Will Stablecoin Regulation Lead to a Private Money Revolution
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Anytime governments try to regulate something saddens me. It's about them taking control of the asset. Then it moves onto taxing it. Then they use control of the asset to take ownership of it and ensure the citizen owners are dispossessed in favour of large corporations and government bodies. The final step is when the asset becomes just another tool of authoritarian state control over the individual.
We need to keep stablecoins out of the hands of the government.
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What bothers me most about regulation is that it narrows competition to fewer players, usually those with deep enough pockets to afford the hurdles that must be jumped.