I’d love to read this article but unfortunately I hit the paywall, and so I’ll just add my generic thoughts based on the headline: this type of lobbying, fear mongering, and manipulation of our political/legal system has gone on for too long. We can’t afford t have that in layers of our economy that are very fundamental to a functioning democratic society, like the banking or payment systems we use. I know we have many banks and credit unions and brokers or whatever to choose from, but I feel like there is no getting away from the truth, which is that there are a few incredibly huge players like JP Morgan Chase, Visa, Mastercard, Blackrock, etc. and everyone else is a small player that’s at best vulnerable and cannot afford to compete fairly with them.

What we really need are all new antitrust laws that are very aggressive, to fine/jail/break up mega corp companies and execs. And heavy regulation so that even if they’re privately owned, they’re under control, and working in the public interest.

If stablecoins are supposed to be usable as currency, maintain a fixed value relative to a government-backed standard, and also accumulate interest...

... then shouldn't banks just be able to deal in them?