Crypto was born in the aftermath of – and, to some, in response to – the 2008 crisis. Satoshi Nakamoto’s Bitcoin paper debuted into a world where governments had just propped up the financial system by pouring money into it. Crypto lacks such a centralized authority. If SVB customers, including Circle and its USDC stablecoin, are forced to take a haircut on their money, the repercussions are unclear.
Does the SAB 121 Vote Mean Anything for Future Crypto Legislation?
Unfortunately however, the legislative measure is now heading to the desk of President Joseph Biden, who has vowed to veto...