Goldman Sachs making some pints on stablecoins, this comes via Dow Jones / MarketWatch (may be gated)
- current state of stablecoins shares similarity with private bank notes, which circulated as money in the 19th century and were later replaced by national bank notes subject to federal oversight
- Stablecoin is a type of cryptocurrency pegged to other assets, often fiat currencies such as U.S. dollars.
- Regulations for such coins “seems likely,”
If you can access that link above its a very intersting read. Key point made by GS:
- “The second key lesson from this experience is that while private and public money can coexist for a time, the private money system is eventually regulated and/or later supplanted by public money,” according to the analysts. Private bank notes were replaced by national bank notes after the National Banking Act was passed in 1863.
Meanwhile, BTC slipping a little: