Rich by Coin

That’s because stablecoins are supposed to be a method of payment and not a banking product, yet their only real legitimate use is to facilitate crypto trading.
Otherwise, stablecoins mostly facilitate money laundering and sanctions evasion.
So most Americans don’t need stablecoins, and even proponents acknowledge that demand for them in the U.S. may be limited.
The crypto industry therefore needs the loophole to provide people with a reason to hold stablecoins.

The loophole allows crypto to effectuate a transfer of funds from more to less productive uses.
This is a win for the crypto industry but a loss for Main Street Americans, and one that could lead to devastation for our economy as a whole.