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After the monetary disaster, there was a big interval of reform in monetary markets, the place we gave choice to cost stability merchandise that labored correctly, similar to authorities cash market funds or steady worth funds, and penalized, restricted, or elevated capital for these which didn’t work correctly, similar to deposits at extremely leveraged banks, prime-money market funds, or securitizations. This implies we all know find out how to outline protected, steady reserves for a stablecoin that aren’t a menace to monetary markets, and H.R. 4766 does this.
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