The US treasury released a report on stablecoins last month warning that a run on them could disrupt the wider financial system: > In addition to market integr

The US treasury released a report on stablecoins last month warning that a run on them could disrupt the wider financial system: > In addition to market integrity, investor protection, and illicit finance concerns, the potential for the increased use of stablecoins as a means of payment raises a range of prudential concerns. If stablecoin issuers do not honor a request to redeem a stablecoin, or if users lose confidence in a stablecoin issuer’s ability to honor such a request, runs on the arrangement could occur that may result in harm to users and the broader financial system. Further, to the extent stablecoins are widely used to facilitate payments, disruptions to the payment chain that allows stablecoins to be transferred among users could lead to a loss of payments efficiency and safety and undermine the functioning of the broader economy. The potential for stablecoin arrangements to scale rapidly raises additional issues related to systemic risk and concentration of economic power. I see this as the government equivalent of shouting from the rooftops. It's just a shame no one will treat it that way. https://home.treasury.gov/system/files/136/StableCoinReport_Nov1_508.pdf https://home.treasury.gov/system/files/136/StableCoinReport_...