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Crypto industry pushing Canada to follow U.S. lead in embracing stablecoins
(www.bnnbloomberg.ca)
this post was submitted on 30 Jun 2025
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Regulate society for the greatest good. Living in a playground for the ultra-wealthy is not it
That's whom cryptocurrency confidence games is currently serving, though. It vacuums off bad investors far more than bad markets ever could have, and leaves society to deal with the mess. Stablecoins is just another way to pass off the sort of bad debt that has led to bank rescues of the past and the fall of Lehman Brothers. You say you are tying it to currency, and then begin tying it off to bad debt obligations.
We already do, hence the ability to choose alternative.
We buy half of all mortgage bonds in Canada to artificially depress the currency to prop up asset prices for instance, it would be nice to have competition in currency to prevent such manipulation that benefit the rich.
Crypto's the path towards a fairer society economically-speaking, good to know /s
Its not crypto, its a treasury backed digital currency. Though crypto is fine too if someone wants to hold a sovereign asset, or a digital currency backed by gold, or shares of the S&P500, anything people want to use as a medium of exchange.
Arguing we are already in a fair society where the rich arent catered to is silly to me, look at stock valuations and price to income ratios on real estate. All that currency debasement hasn't helped the poor one iota.