The Stellar Development Foundation opposes the STABLE Act, arguing it would grant banks a monopoly over stablecoins and harm consumers by reducing competition and innovation rather than protecting them.
The Stellar Development Foundation has published a statement opposing the STABLE Act, which would apply outdated banking regulations to blockchain payment infrastructure. SDF argues the legislation would effectively grant big banks a monopoly over stablecoins, reducing competition and consumer choice while harming the blockchain industry. Though supportive of consumer protection goals, SDF contends the STABLE Act would achieve the opposite by entrenching bank market power, raising prices, and reducing innovation. SDF calls for collaborative regulatory frameworks tailored to blockchain technology rather than legacy banking systems.
