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What The FSB’s Proposed Stablecoin Ban Shows About the Stage of Crypto
Bitcoiners love to use this quote. It’s poetic but it also is a pretty useful psychological tool. Markets and economies move in predictable cycles. In terms of the disruptive force of Bitcoin in particular (but also cryptocurrency more broadly), I think the world is in phase III, “then they fight you.”
Recently, a bombshell announcement was dropped by the Financial Stability Board (FSB), which in a nutshell serves like the “advisory board” for the global financial system to encourage certain actions from Central Banks. The FSB’s announcement (PDF below) called for Central Banks to ban stablecoins.
THIS IS A HUGE DEAL. But before I go further, some context on stablecoins…
