Welcome to the Tech Meme Ride Home for Thursday, December 3rd, 2020.

I'm Brian McCullough. Today a new bill could regulate crypto in a way that

crypto folks say would defeat the point of decentralization. bill could be

be regulate crypto in a way that crypto folks say would defeat the point of

decentralization in the first place.

Facebook antitrust could be coming as soon as next week.

Loon is the first to turn the skies over to artificial intelligence.

Hackers are targeting the vaccine rollout, and now you too can contribute to Street View on Google Maps.

Here's what you missed today in the world of tech.

Three Democratic lawmakers have introduced a bill that would require

stable coin issuers to obtain a banking charter, approval from the FDIC, and the Federal Reserve

before they can roll out any further stable coins, which sounds like a lot of hoops to jump

through, but also maybe points the way to this sort of thing becoming government sanctioned and thus becoming mainstreamed, quoting Coin Desk.

The three representatives introduced the Stable Coin Teathering and Bank Licensing Enforcement, or Stable Act, on Wednesday, writing in a press release that it would focus on regulating Stablecoons, naming the Stablecoine of the Facebook-led Libra project, since renamed

Diem as one example.

Quote, digital currencies whose value is permanently pegged to or stabilized against a conventional currency like the dollar pose new regulatory

challenges while also representing a growing source of the market, liquidity,

and credit risk, the press release said. The 18-page bill would specifically require stable

coin issuers to obtain a banking charter, require approval from the Federal Reserve,

Federal Deposit Insurance Corporation, and bank regulators to issue a stable coin, require those same entities to conduct an ongoing

analysis of any systemic risk, and require issuers to have FDIC insurance or maintain

reserves for easy conversion back into US dollars.

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