Business
Stablecoins Are Private Money. That’s Why They’re a Risk to the Economy.
“Private money” sounds like an oxymoron. Surely the currency on which our economy runs is the epitome of a public good?
In fact, the U.S. has had private money before, in the 1800s. And private money is now making a comeback, in the form of stablecoins: cryptocurrencies intended to maintain a fixed value against the dollar.
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