It’s hot today
Bitcoin, for the first time since May, is trading at 51,789.20, and more are flaring up in the US. Practically Shakespearean to be or not to be.
Read more about the news.
Massachusetts Senator Elizabeth Warren, an outspoken opponent of crypto in the US government, called the cryptocurrency industry a “new shadow bank.”
In an interview with the New York Times yesterday, the senator said the cryptocurrency industry offers “many of the same services” as shadow banks, but still lacks “consumer protection or financial stability that supports the traditional system.” A controversial statement, but many enter Congress with just such, and then into the oval office. Think Trump
It turns out that Warren is worried about the fast-growing stablecoin market and is proposing an “effective measure” against the fast-growing market, that is, simply prohibiting American banks from storing the very collateral of the stablecoin.
Today, according to statistics from CoinMarketCap, the total market capitalization of stablecoins such as Tether (USDT) and USDC Coin (USDC) is about $ 123 billion. Do you understand the scale?
It seems that the country is following the path of least resistance – what cannot be developed at the state level or controlled should simply be banned. I don’t want to comment on this as an extreme measure, but, apparently, Mrs. Senator loves George Orwell very much.