Why does Washington worry about stablecoins?

Stablecoins are the gateway from fiat to crypto and back.

Estimated total of the fiat currency collected by the stablecoin issuers is less than $100 billion.

Some part of the collected amount is loaned.

The total market capitalization of the crypto market is $2+ trillion.

There is chance that if or when people decide to cash out from crypto back to fiat the stablecoin issuers are not going to keep the 1:1 peg.

US and the world has to deal with the people who lost a little or a lot.

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