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The ability for self custodied stablecoins to be transferred instantly & cheaply is vastly under appreciated…
It’s why they will extend dollar dominance in the FIAT world.
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The real answer is that China is experiencing what I have been warning people about for years: stablecoins will destroy currency controls and greatly impair the ability of regimes to lock their people in and then burn the fiscal house down.
Put differently: do you want your money trapped in China in local currency?
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