The Case for Stringent Regulations of Stablecoins

Decisions on how to regulate stablecoins, and other parts of the crypto industry, should be based on what we know about crypto’s past and present and discount starry-eyed forecasts of its future.  The past demonstrates public blockchains cryptocurrencies are highly volatile; main blockchains have no mechanisms for ensuring stability; and that after 13 years there are unfulfilled promises and no widespread use of cryptocurrencies for productive purposes. The present shows that speculation