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0 pointsgamblor9566mo ago0 comments

Stablecoins will end subject to just as much regulation as a normal bank, maybe even more.

JPMorgan Chase, BofA, and their ilk have R&D budgets large enough to have already launched a dozen stablecoins by now. They haven't, not because they can't (on a technical level) but because they don't actually see the value to it (on a business level). They're simply paying lip service to crypto because it pumps up share value, the same way every business was bragging about their AI investments just a few months ago.

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Ericson23146mo ago

I certainly hope you are right! It depends on how deep the trump admin 2 rot will go.

Anon846mo ago

Banks are already using stable coins internally (case in point https://en.wikipedia.org/wiki/JPM_Coin) it just hasn’t been made available externally yet.

ericpauley6mo ago

Clicking just a few links down on that article shows that JPM Coin is a Blockchain in branding only. It's backed by a centralized (in trust principals if not in compute) ledger and used for transactions between mutually-trusting parties.

immibis6mo ago

Is Uber subject to taxi regulations yet?

gamblor956OP6mo ago

Outside of the U.S., Uber is subject to taxi regulations in most of the places it operates.

In the U.S., it is subject to a new set of regulations governing "rideshares" that are similar to the regulations governing taxis. The primary differences are that medallions aren't required for rideshare vehicles, nor are rideshare drivers required to know anything about the location in which they're driving.

Objectively speaking, the taxi drivers and companies that are still alive today provide better service than their rideshare counterparts. I can tell a taxi driver "the Z building" at the airport and they'll know what it is, where it is, and how to get there. Most rideshare drivers need to look it up, and they'll be damned if they actually follow the google directions to get there without getting lost on the way.

seanmcdirmid6mo ago

I’m pretty sure most rideshare services are forcing drivers to use their own map software. They aren’t using google, at least directly, and they are using routes recommended by the ride sharing companies themselves. Just replace them with AI already, Waymo was really good when I tried it in SF. Not technically ride share anymore though, I bet we see robo taxis eventually regulated like taxis when they eventually take over the market.

te_chris6mo ago

Yes. Just look at London - where it’s private hire, not taxi, but still very regulated.

piker6mo ago

And basically sucks.

Jommi6mo ago

yes in many many many countries.

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