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> banks (...) might end up sandwiched by competition from (...) Layer 3 stablecoin systems. This is why banks are currently (...) demanding that stablecoins be
by tsukikage 4y ago
> banks (...) might end up sandwiched by competition from (...) Layer 3 stablecoin systems. This is why banks are currently (...) demanding that stablecoins be regulated in the same way that banks are.
...but earlier:
> Thinking of these different layers of money as enforceable ‘chips’ within a legal system helps to highlight that ‘thin air’ is thicker than we may think.
...surely the author themselves here is effectively admitting there are more reasons one might desire regulation and oversight in the crypto space than just stifling competition?