Stablecoins, Treasury + the crypto bill

plus, the digital euro, more tariffs, political chaos and more

“The greatest danger for most of us is not that our aim is too high and we miss it, but that it is too low and we reach it." — Michelangelo ||

Hi everyone, I hope you’re all doing well!

Below, I look at the proposed crypto bill, and at a recent report on stablecoins from the US Treasury (it’s not nearly as great as most crypto enthusiasts seem to think). I was hoping to get to the Taiwan situation and why that matters for crypto, but that has to get bumped to tomorrow.

Production note: I’m in London later this week, so will have to skip publication Thursday-Saturday inclusive.

IN THIS NEWSLETTER:

• The US Treasury report on stablecoins wasn’t that great

• A glimpse at the US crypto bill

• Macro-crypto bits: tariffs, realignment, digital euro, Litecoin

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WHAT I’M WATCHING:

The US Treasury report on stablecoins wasn’t that great

The US Treasury has published a report on stablecoins that many crypto enthusiasts have hailed as “excellent”. I feel I have to do some hype-busting here.