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.
btc Bitcoin 18 May 2022

Meanwhile, BTC slipping a little: