There is a glaring omission in the stablecoin bill recently introduced in the House that should concern both Republicans and Democrats. The flaw is that the bill does not deny government licensing authorities the discretion to coerce stablecoin protocols to deny services to lawful but politically disfavored businesses. This gap needs to be addressed to prevent political pressure being placed on stablecoin promoters to bar transactions with legal, but unpopular industries. It is entirely foreseeable that private-sector sponsors of stablecoins or even commercial servicers such as wallet providers and others could be ... (full story)