Community Trust ScoreLikely Real
Jeremy Allaire expressed: Thank you for your continued thought leadership at the SEC Hester Peirce — “People find value in using tools like stablecoins and decentralized finance (“DeFi”).
So we should take care not to use regulation to force them into our comfort zone by, for example, replacing stable coins with central bank digital currencies and DeFi with the centralised intermediaries of traditional finance.
Previously Allaire stated: Looking forward to hearing next week with Rep. Maxine Waters, ranking member; Patrick McHenry, and the full Committee @FSCDems to discuss Crypto and national economic competitiveness for the United States.
Community Reaction: I’m more interested in something else: SEC is increasing pressure on Tether, and at this time Circle declares its full support for the US and SEC policy, while sharply increasing the volume of USDC emission. What is going on?
Naturally, this is happening now, but not in a mild form. The authorities are increasing pressure on stable coins, mainly on Tether, as it is a leader in its field, in order to create optimal conditions for the issuance of the digital dollar.
The SEC is stifling innovation. BlockChain is the Internet of Records layer enabling the transfer of records autonomously, decentralized, and without an intermediaries. There are huge implications for their malingering and poor regulatory practices.
Maxine Waters can’t figure out what the colors of traffic light mean and she is going to be in a hearing about crypto?
I think it will be challenging to speak at a level that some of the committee members will reasonably understand the merits of digital assets and crypto currencies. Some have already formed biases one way or another. Fortunately, a few will listen with some sense of objectivity.
Thank you for all that you and other leaders in this field are about to do. We know that regulation will be part of this new internet of money and hope you are all able to de-vilify cryptocurrency and move us forward towards financial freedom, together.
Mr Allaire, could you provide details on the collateral counter-parties are presenting in exchange for USDC?
Those who are new not able to differentiate between CeFi, DeFi, overcollateralization, under collateralization and what does it all mean? There are discussions about the of digital asset investing, potential returns, and how businesses can get involved, it helps to understand the core ideologies which will help better understand political statements.
There is a lot to understand ranging from how the rise of DAOs has dramatically impacted crypto and the digital asset industry. But how will they bridge the gap to the existing economy?
