Why Washington hates this new class of cryptos:
is about to wage war against a new, booming class of cryptocurrency called stablecoins.
This new class of crypto has exploded from a total value of $28 billion at the beginning of the year to $110 billion by July. Its use in commercial dealings is mushrooming as well. It’s no wonder: Done right, stablecoins are the equivalent of cash. The ultimate savings for consumers and businesses could amount to literally hundreds of billions—if not trillions—of dollars a year.
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