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Mnuchin Says Crypto Stablecoins “Shouldn't Be Like Casino Chips”
- TMWNN 5y agoFrom the article: >“They shouldn’t be like casino chips,” Mnuchin said Thursday at the Bloomberg Invest Global virtual conference. “If you are going to issue a stablecoin, the actual money should go be held in a regulated bank, in a trust account and the people who hold the stablecoins should be able to exchange those for real dollars at any time.” [...] “Stablecoins should be invested in U.S. Treasuries or things that look like U.S. Treasuries -- money-markets of highly liquid, backed investments,” said Mnuchin.