Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

LudwigPastorius

(14,152 posts)

31. The bill is concerned with a specific type of crypto issue, the stablecoin.

Reply to orangecrush (Original post)

Sat Jun 14, 2025, 01:42 PM

Jun 2025

Stablecoins do not go up and down in value like other crypto assets. They are (supposed) to be pegged to the dollar or other real world asset.

This bill ensures that any entity that issues a stablecoin has those actual assets on deposit to back up them up. It is a good thing. This means that someone who cashes out what is advertised as a safe instrument will actually get their money in good old US dollars.

It prevents scammers from stealing from people.

https://www.congress.gov/crs-product/IN12522

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

32 replies

= new reply since forum marked as read

Highlight:

WTF? 18 Democratic Senators vote with GOP to advance Trump's crypto bill [View all] orangecrush Jun 2025 OP

crypto is probably going to end up like defense/wall street/pharma cadoman Jun 2025 #1

Most crypto is worthless Johonny Jun 2025 #24

how can something that is worthless trade for billions of dollars in value every day? cadoman Jun 2025 #28

Because red or blue Hey Joe Jun 2025 #2

list of all 18 Dems who voted for cloture Celerity Jun 2025 #3

right on et tu Jun 2025 #4

Fetterman and Slotnik don't surprise me . . . markpkessinger Jun 2025 #5

Follow the money Bettie Jun 2025 #12

Just imagine if people had voted Dem long enough RandomNumbers Jun 2025 #32

Disgusting ..... Mossfern Jun 2025 #6

Good luck with the deer orangecrush Jun 2025 #17

Damn, Senator Warnock??? a kennedy Jun 2025 #7

And Booker milestogo Jun 2025 #25

Surprised by Adam Schiff. BlueKota Jun 2025 #30

My thoughts too can't see a preacher doing that Tribetime Jun 2025 #27

Crypto is here to stay - Tens of millions in US like and own it awesomerwb1 Jun 2025 #8

Not at all dumb. Passages Jun 2025 #9

Gil Duran: Crypto's "a giant scam - a towering stack of Ponzi con fraudulence." highplainsdem Jun 2025 #13

Yep. Passages Jun 2025 #14

Thank you orangecrush Jun 2025 #16

Excellent, informative post. oasis Jun 2025 #18

Someday we'll have a repeat of Dubya's 2008 financial crisis thanks to this con. Vinca Jun 2025 #19

The generative-AI boom or bubble (ChatGPT etc.) is also a con job, with many of the same highplainsdem Jun 2025 #21

Their donors. Passages Jun 2025 #10

See these threads from last fall on how much the crypto industry spent on the 2024 election: highplainsdem Jun 2025 #11

Thank you orangecrush Jun 2025 #15

Crypto, klepto, gypto. oasis Jun 2025 #20

Crypto Bill is for money laundrying. Emile Jun 2025 #22

Suprised orangecrush Jun 2025 #23

"Never trust politicians, lawyers, or ... priests" walkingman Jun 2025 #26

My Senator, John "What's the use of resisting." Hickenlooper. Hotler Jun 2025 #29

The bill is concerned with a specific type of crypto issue, the stablecoin. LudwigPastorius Jun 2025 #31