Stablecoin bill regulation thread

[bbc.reporter]

@zasad@. All of these people behind the American government and the their traditional financial system in the past, in the present and also in the future know already that their national debt will never be repaid. However, they also know that they have a cheatcode on the system because they know they can print the currency on what currency they have the debt on. This will not stop and the value of the American dollar will always go down. This is certainly why bitcoin was created by Satoshi.

[zasad@]

@zasad@. All of these people behind the American government and the their traditional financial system in the past, in the present and also in the future know already that their national debt will never be repaid. However, they also know that they have a cheatcode on the system because they know they can print the currency on what currency they have the debt on. This will not stop and the value of the American dollar will always go down. This is certainly why bitcoin was created by Satoshi.

The US national debt is now comparable to the capitalization of almost 100 of the world's largest companies. This debt is impossible to repay in principle.
I look at Bitcoin, I like decentralization, but to be honest, I really don't like that 5 pools control more than 75% of the hashrate. And then another 15 pools control the remaining 20-24% of the hashrate.

I used to laugh at the BNB chain, which has 25 validators, and here there are even fewer.
If suddenly 5 large pools want to arrange a surprise, they will do it. And in the world there is not even a criminal penalty for this.

[bbc.reporter]

@zasad@. Agreed. Also, the distribution of bitcoin is becoming centralized and this will continue because of the monetary policy chosen by the creator Satoshi Nakamoto. I speculate that if he can change this, bitcoin will have a monetary policy similar to Grin.

As an experimental hypothesis, Grin's inflation rate may discourage hoarding early on, improving its distribution. Inflation disincentivizes "whales," who have an inordinate amount of control over the price of an asset, and should act to downplay speculative bubbles and price swings. Early adopters get just as much out of grin as those who adopt later. This argument is discussed at length in Bitcoins are not digital greenbacks, in which Wei Dai himself considers "Bitcoin to have failed with regard to its monetary policy". Grin is aiming for as equal access and utility as possible for all users, now and in the future.

Constant emission could provide enhanced supply/demand certainty for all types of users, and allow transparent and natural pricing. Note: Bitcoin becoming widely usable as a method of exchange versus a strict store of value depends on the concept of "Keynesian beauty contests." The experiment is ongoing.

Source https://docs.grin.mw/wiki/extra-documents/monetary-policy/



In any case, it appears there is a resistance on the Genius act. This will certainly cause a dump on bitcoin and the cryptospace. The Donald said he has talked to the representatives and they will vote on the passing of the bill, however.



House Speaker Mike Johnson (R-La.) abruptly canceled Tuesday's remaining floor votes as opposition from a group of right-wing Republicans stymied efforts to send legislation establishing a regulatory framework for stablecoin issuers to President Trump's desk.

Read in full https://www.axios.com/2025/07/15/house-genius-act-vote-derailed

[zasad@]

@zasad@. Agreed. Also, the distribution of bitcoin is becoming centralized and this will continue because of the monetary policy chosen by the creator Satoshi Nakamoto. I speculate that if he can change this, bitcoin will have a monetary policy similar to Grin.

Everything decentralized eventually becomes centralized.
Almost 75% of all bitcoins were mined in the first 8 years, but no one took it seriously back then. I bought the first bitcoin in 2015 at about $200 on average, and many other people bought it, but no one kept the coins even until they reached $20,000.

[bbc.reporter]

News update.

This is a victory for the cryptospace. It has now clarity in regulations and legality in America. We can be quite certain many countries and jurisdictions will follow America similar to what has occurred during the passing of bills, on the legalization and regulation of the internet on 1997-1998.

There will be a bubble inflating pump that will come after this. I very much wish it will be years before a bubble pop occurs.



Genius, Clarity bills sail through House in major win for crypto

In a historic victory for crypto, the House of Representatives approved three industry-backed bills on Thursday, one of which President Donald Trump will sign Friday afternoon.

Two of the bills drew significant — an unexpected — bipartisan support.

The Clarity Act, which would install the Commodity Futures Trading Commission as the industry’s primary regulator, passed 294-134.

Read in full https://www.dlnews.com/articles/regulation/crypto-bills-sail-through-house-in-major-win-for-crypto/

[zasad@]

News update.

This is a victory for the cryptospace. It has now clarity in regulations and legality in America. We can be quite certain many countries and jurisdictions will follow America similar to what has occurred during the passing of bills, on the legalization and regulation of the internet on 1997-1998.

Excellent news, but it did not cause much euphoria on the crypto market. Although I think that the price increase was played out in advance. Now it will be interesting to see how many more players will want to come to this market and how they will compete with the market leaders. I don’t understand why the market needs 5-10 more USDC variants.

[bbc.reporter]

@zasad@. This is what I have been arguing. The present market is very headshaking because if all of these good news occurred on 2021, we can be very much certain that bitcoin has pumped to $200k already! We have witnessed this repeatedly on 2024 and 2025. After a good news, there will always be a big dump to stop the pump.

This will also be why I speculate that the next pump that will make it appear that the dumpers have stopped might be the pump where there will be a bubble pop.

[zasad@]

bbc.reporter, I'm still watching this circus. The trend is bullish for now.


Citi – TOP-3 US bank
https://www.msn.com/en-us/money/companies/citigroup-considers-issuing-its-own-stablecoin-ceo-says/ar-AA1IFI3L
Citigroup considers issuing its own stablecoin, CEO says
Citigroup may issue its own stablecoin in an effort to facilitate digital payments, the bank's CEO, Jane Fraser, told analysts on a post-earnings conference call on Tuesday.

"We are looking at the issuance of a Citi stablecoin, but probably most importantly is the tokenized deposit space, where we're very active," she said. "This is a good opportunity for us."

[bbc.reporter]

@zasad@. It is the beginning. Did they mention which blockchain they will use to issue their stablecoins? I predict that this will be on Ripple because it appears that they have created a few banking partnerships already. However, this might also make this an isolated issuance because there no ways to bridge from Ethereum or Solana to Ripple.

Citi might be correct, it will only be a good opportunity for them if this is in Ripple because if this is issued in Ethereum or Solana, their stablecoin will certainly create liquidity inflows through Curve or Aave and the others hehehe.

[roemer]

@zasad@. Agreed. Also, the distribution of bitcoin is becoming centralized and this will continue because of the monetary policy chosen by the creator Satoshi Nakamoto. I speculate that if he can change this, bitcoin will have a monetary policy similar to Grin.

Everything decentralized eventually becomes centralized.
Almost 75% of all bitcoins were mined in the first 8 years, but no one took it seriously back then. I bought the first bitcoin in 2015 at about $200 on average, and many other people bought it, but no one kept the coins even until they reached $20,000.

Where were you able to spend it? The market places didn't even open up less then a few years ago.

[zasad@]

@zasad@. Agreed. Also, the distribution of bitcoin is becoming centralized and this will continue because of the monetary policy chosen by the creator Satoshi Nakamoto. I speculate that if he can change this, bitcoin will have a monetary policy similar to Grin.

Everything decentralized eventually becomes centralized.
Almost 75% of all bitcoins were mined in the first 8 years, but no one took it seriously back then. I bought the first bitcoin in 2015 at about $200 on average, and many other people bought it, but no one kept the coins even until they reached $20,000.

Where were you able to spend it? The market places didn't even open up less then a few years ago.

If you are interested, in 2015 there were many exchanges and all were without KYC.
For example polonex, yobit, if necessary I need to look at my old accounts where I traded. And I definitely used 5-6 exchanges and dozens of money exchangers, which sent me money by transfer to a bank card without any problems. Then it was a great time, no control from banks, states and tax inspectorates.

@zasad@. It is the beginning. Did they mention which blockchain they will use to issue their stablecoins? I predict that this will be on Ripple because it appears that they have created a few banking partnerships already. However, this might also make this an isolated issuance because there no ways to bridge from Ethereum or Solana to Ripple.

Citi might be correct, it will only be a good opportunity for them if this is in Ripple because if this is issued in Ethereum or Solana, their stablecoin will certainly create liquidity inflows through Curve or Aave and the others hehehe.

Stablecoins USDT and USDC use different blockchains. According to my logic, Citi probably won't lag behind its competitors either.
"To consider the possibility" in Russian means blah blah blah. That is, it's most likely more no than yes.
Maybe in English it should be understood differently, but for now I'm watching

[bbc.reporter]

@zasad@. I reckon that this not only blah blah blah for Citibank. They are top 3 bank in America with international branches. If they do not join the stablecoin business they are risking becoming only a top 4 or top 5 bank if the other banks begin their own stablecoin business.

Stablecoins have become a big business with Tether having a net profit of $13 billion on 2024. They also have only over 100 employees hehehe. This implies that the expenses for doing this business is very low but the profit is very high. It will be very headshaking for Citibank if they will say no to this.

[zasad@]

@zasad@. I reckon that this not only blah blah blah for Citibank. They are top 3 bank in America with international branches. If they do not join the stablecoin business they are risking becoming only a top 4 or top 5 bank if the other banks begin their own stablecoin business.

Stablecoins have become a big business with Tether having a net profit of $13 billion on 2024. They also have only over 100 employees hehehe. This implies that the expenses for doing this business is very low but the profit is very high. It will be very headshaking for Citibank if they will say no to this.

I agree with you that Citibank is most likely interested in this business. But here's the problem: Citibank issues stablecoins Citi USDT and who needs them?
There are many problems with competition in the market and how to make users choose their stablecoins instead of the well-known USDT and USDC?

[bbc.reporter]

@zasad@. On who needs them, I reckon their clients because instead of a CBDC, they can use virtual payments through their issued stablecoins. However, I am not certain on their implementation but we can be quite sure that if they decide to enter the stablecoin business, they have a roadmap for this already.

In any case, Polymarket is also speculating on whether to issue their own stablecoins hehehe. I reckon yield products for much these stablecoins will be another big storyline for the cryptospace.



Polymarket, the cryptocurrency-powered prediction market that recently attained a billion dollar valuation, is deciding whether to introduce its own customized stablecoin, or accept a revenue sharing deal with Circle based on the amount of USDC held on the platform, according to a person familiar with the plans.

Polymarket’s motivation to create its own stablecoin is simply to own the yield-generating reserves that back the large amount of Circle’s USDC dollar-pegged token used to make bets on the popular betting platform, the person said.

Read in full https://www.coindesk.com/business/2025/07/22/crypto-prediction-market-polymarket-weighs-launching-its-own-stablecoin-source

[zasad@]

@zasad@. On who needs them, I reckon their clients because instead of a CBDC, they can use virtual payments through their issued stablecoins. However, I am not certain on their implementation but we can be quite sure that if they decide to enter the stablecoin business, they have a roadmap for this already.

In any case, Polymarket is also speculating on whether to issue their own stablecoins hehehe. I reckon yield products for much these stablecoins will be another big storyline for the cryptospace.



Polymarket, the cryptocurrency-powered prediction market that recently attained a billion dollar valuation, is deciding whether to introduce its own customized stablecoin, or accept a revenue sharing deal with Circle based on the amount of USDC held on the platform, according to a person familiar with the plans.

Polymarket’s motivation to create its own stablecoin is simply to own the yield-generating reserves that back the large amount of Circle’s USDC dollar-pegged token used to make bets on the popular betting platform, the person said.

Read in full https://www.coindesk.com/business/2025/07/22/crypto-prediction-market-polymarket-weighs-launching-its-own-stablecoin-source

Everything here is logical. Stablecoin is a token issued by Circle. Circle makes a profit because it invests in US treasuries, and all USDC users give interest-free loans to the US government
Polymarket also wants to get a share of the profits.

[bbc.reporter]

Similar to what I have been arguing before, China will fight for dominance on technology including blockchain technology. Presently that America has made their roadmap in the cryptospace, it appears China has began moving also hehehe. However, they are not very aggressive on their moves because they are using Hong Kong as their proxy. If they want dominance, Beijing should order Shanghai to open direct for the cryptospace.



China plans to allow the launch of its first stablecoins in a bid to internationalise the renminbi and compete against the US dollar, per a Financial Times report. Hong Kong regulators recently passed a law allowing licensed businesses to issue tokens backed by any fiat currency. After years of excluding the crypto industry from traditional finance, this regulatory framework enables China’s crypto reentry through controlled channels while mainland restrictions are still being maintained.

Chen Lin, director of the Centre for Financial Innovation and Development at the University of Hong Kong, says that China as a whole has become very interested in crypto, especially stablecoins.

Read in full https://watcher.guru/news/china-to-permit-launch-of-its-first-crypto-stablecoin

[zasad@]

China is already late. To catch up with the US, they will need to lift all restrictions and allow mass use of cryptocurrencies.
And this will have to be implemented not only for Hong Kong, but throughout the country, as is done in the US.

China has a huge amount of treasuries, why don't they print their own stablecoin?

[bbc.reporter]

@zasad@. I reckon if China will issue their own stablecoin with the backing of US treasuries, this will only create a setting where China is arguing positively for America and the correctness of the Donald's roadmap for the cryptospace hehehee. This will be an admission that America is the leader in blockchain. The Xi of the Jin and the Ping will never do this.

Also, China wants to dump much of the US treasuries that they have. Issuing a stablecoin with the backing of US treasuries will imply that China will buy treasuries later. They cannot do this considering the Donald's tariff war.

[zasad@]

@zasad@. I reckon if China will issue their own stablecoin with the backing of US treasuries, this will only create a setting where China is arguing positively for America and the correctness of the Donald's roadmap for the cryptospace hehehee. This will be an admission that America is the leader in blockchain. The Xi of the Jin and the Ping will never do this.

Also, China wants to dump much of the US treasuries that they have. Issuing a stablecoin with the backing of US treasuries will imply that China will buy treasuries later. They cannot do this considering the Donald's tariff war.

China and the US are first and foremost trading partners, despite all the contradictions. But China has an 8-times larger population and a more advantageous location than the US. China is good at copying and catching up with competitors.

I don't see any mass adoption of stablecoins yet, $278 billion is not much on a global scale. And Trump has a little over 3 years left as US President.

[bbc.reporter]

If China is a boxer, it appears that it wants to enter the ring to fight in the cryptospace hehehe. The implementation of this is very important because if they are very much strict on usage with many locks, freezes amd censorship which China is very much known of doing on their citizens, I reckon this will not get much adoption. The Chinamen will choose bitcoin over a stablecoin where they risk their wealth to the frozen by the administration of the Xi of the Jin and the Ping.



China is considering allowing the usage of yuan-backed stablecoins for the first time to boost wider adoption of its currency globally, sources familiar with the matter said, in a major reversal of its stance towards digital assets.

The State Council - China's cabinet – will review and possibly approve a roadmap later this month for the greater usage of the currency globally, including catching up with a U.S. push on stablecoins, said the sources.

Read in full https://www.reuters.com/business/finance/china-considering-yuan-backed-stablecoins-boost-global-currency-usage-sources-2025-08-20/