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Proposed regulatory framework for a bank-controlled blockchain stablecoin (J.P. Morgan, February 2020)

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[Source from Google search](https://preview.redd.it/0a1pfrsu2ec71.png?width=843&format=png&auto=webp&s=735cdf32208f1816e32fa24d4beab5bf52ee8b8b)

Direct archive in pdf format: [https://www.cftc.gov/media/3531/TAC022620_CFTCTACJPMStablecoins/download](https://www.cftc.gov/media/3531/TAC022620_CFTCTACJPMStablecoins/download)

Mirror: [https://www.scribd.com/document/516587470/Stablecoins-A-Proposed-Regulatory-Framework](https://www.scribd.com/document/516587470/Stablecoins-A-Proposed-Regulatory-Framework)

What do you think?

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One Comment

  1. Posting this mainly because have been noticing several media outlets trying to spook people anytime a Fed chair member mentions the term stablecoin.

    JPM coin is also already live and mainly being used on a private scale with specific clients: [https://www.cnbc.com/2020/10/27/jpmorgan-creates-new-unit-for-blockchain-projects-as-it-says-the-technology-is-close-to-making-money.html](https://www.cnbc.com/2020/10/27/jpmorgan-creates-new-unit-for-blockchain-projects-as-it-says-the-technology-is-close-to-making-money.html)

    From what i’ve read it’s fundamentally not much different from how USDC operates, besides USDC being on a public blockchain and JPMcoin being currently on a private chain. They also want their coin to be whitelisted to KYC’d users only, only people that verified identity would be able to do transactions on chain.

    CBDC (Central Bank Digital Currency) also has a whitepaper planned for release this year.

    In general ideas like this don’t work on large scale without government intervention and aggressive injections of capital from the Fed themselves. Given on how much agressive Q.E. was done through the stimulus last year and Congress being very disgruntled from the increases of inflation on consumers, it’s fairly unlikely there will be anything drastically done in the next 2-3 years. JPM Coin is also progressing in exposure and usage fairly slow since it’s launch nearly 1 year ago, which further proves this point.

My experience – Minerstat vs HiveOS

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