The stablecoin legal framework that is coming and will be introduced is none other than having and finding a new buyer of last resort for US debt. The entire fiat debt based system is a perpetual bail out. I have no idea why @DavidSacks said this could “lower long term interest rates” when Tethers primary reserves is 3 month treasuries something that is extremely liquid. Stablecoins are clearly going to be mandated to hold long term treasuries. Doesn’t sound liquid at all.