Most people within the crypto space don’t want regulation, however. One twitter user for example, commented:
“When you were younger you were getting 15% interest on your savings. Thanks to the boomer generation who destroyed the dollar and this country, now we get 0.01% interest on our savings and we losing 6.8% a year to inflation.DeFi was created by the “people” to fix this.”
“here are the things you care about:- pandering to get reelected here are the things you don’t care about:- telling the truth- protecting the people”
And finally, a third user responded
“Our legislators need to get serious about understanding crypto so they stop embarrassing themselves before it is too late.If you don’t understand it, don’t try to regulate it or slander it.”
Stablecoins have a place in the crypto ecosystem and if done right they can hold a valuable place in your crypto-journey, but we recommend you do some independent research before jumping in. Additionally, the tax implications of stablecoins vary wildly from country to country, so proceed with caution.