This bill will BAN "illegal" stablecoins!

Yesterday a disastrous new bill was introduced to congress: The STABLE Act, which stands for Stablecoin Tethering and Bank Licensing Enforcement. Under the guise of "protecting people" it will require stablecoin issuers to obtain a banking charter. Meaning, only banks will be able to issue stablecoins. They said: “Digital currencies, whose value is permanently pegged to or stabilized against a conventional currency like the dollar, pose new regulatory challenges while also represent a growi...