​​​​​​​Stablecoins’ would-be lawgivers don’t know what they’re missing

Bills in US Congress focus on run risk, but more detail needed on operational challenges

In the years leading up to the American Civil War, US state banks would issue paper notes in varying colours and sizes that were not fully fungible. The system depended on “paper money men” to circulate the notes at discretionary – and sometimes suspect – discounts. Widespread swindling ensued and was documented in an 1815 satire that mocked Congress for permitting such practices “without censure or punishment”.

At an event on April 8 organised by Georgetown University in Washington, Mike Hsu –

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

If you already have an account, please sign in here.

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: