Any member of Congress can propose a bill, including bills that have no chance of passing. Most bills go nowhere. Flagging this as off-topic.<p>See these posts by dang for why
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This seems like a fairly level-headed bill that recognizes that organizations that create stablecoins are not materially different from banks, these coins aren't materially different from dollars and therefore should have to follow the same rules as banks.<p>We can have a looong discussion about the regulations that surround banks but that doesn't change whether these entities are banks.
The pattern of people that would seek to promulgate this bill is that they believe the "unbanked" are victims who can only be cured by banking them.<p>This is a distortion and perversion of what representatives and their constituents really want, which is financial security and access to credit.<p>They lack inspiration to see that the infrastructure being created in the non-bank private sector is also aiming to create a more egalitarian system, which does not require banks.
Why bring race into this?<p>Is it nonsensical emotional junk used to move the uneducated masses?<p>I'm no Trump supporter, but when I hear something so disconnected from policy it has a "Mexico will pay for it" vibe.<p>Edit- you guys read the article?