The Weekend #183—The threat of stablecoins

According to former CFTC chair Timothy Massad

Former CFTC chair Timothy Massad, who declared bitcoin a commodity during his tenure, joined the Bankless podcast this week (via Sam Ostler).

The central topic? Stablecoins.

Here’s Massad:

Are we going to get comfortable with digital assets, with tokenized assets, traveling on decentralized blockchains or not? They pose enormous advantages in terms of innovation, composability, open access.

But on the other hand, decentralized blockchains may not offer the kind of governance that we'd like, the kind of ability to check identity, and our financial system does turn on the ability to know who is transacted. So how do we balance that? That, to me, is the central issue.

Check out the full discussion: