Money Disrupted: The Definitive Collection of Stablecoin Resources

Everything you need to see through stablecoin hype and become an expert to stay ahead of the curve

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Thanks for your support! This special article is a curated collection of my best articles that discuss stablecoins. I promised “the good, bad and ugly” and I guarantee that my articles will do just that.

“Crypto bros” would have us believe that stablecoins are a form of digital nirvana. While they are useful, many problems need to be solved before they are unleashed on the general public as a means of daily payment.

I confess that I think CBDCs are a superior payment solution to stablecoins. The government issues them with full faith and backing, and they are not subjected to the varying creditworthiness of their issuers, as stablecoins are “private money.”

Stablecoins’ classification as “private money” has made them preferred to CBDC by many who fear government surveillance.

The irony is that stablecoins, as specified by the GENIUS Act, are not much different than CBDCs and can be frozen and tracked just as readily.

In the end, the fight over private or public issuance of money was diversionary, as the ability to track or freeze remains the same. Now, however, we have to worry about whether the stablecoin will depeg.

I like stablecoins and am pleased that the GENIUS Act legalized them as the digital dollar in the US. So, while I am highly critical of their flaws and the absurd hype, they are indeed better than nothing.

However, the US is at risk of starting a two-tier system for US dollar use: one tier for banks and the other for stablecoins with lower levels of KYC and AML.

This would be disastrous, making a mockery of US policy and siphoning transfers away from banks due to stricter control.

As for the future of stablecoins, I can only say, “Fasten your safety belt!”