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David. said...

In Parasitic Stablecoins Time Swanson focuses in exhaustive detail on the dependence of stablecoins on the banking system:

"This post will go through some of the background for what commercial bank-backed stablecoins are, the loopholes that the issuers try to reside in, how reliant the greater cryptocurrency world is dependent on U.S. and E.U. commercial banks, and how the principles for financial market structures, otherwise known as PFMIs, are being ignored"

Jan 6, 2021, 5:49:51 PM

Posted to Stablecoins