US laws? And then frax is going to apply for a banking license?
Seems like a very large stretch to think that the us government would look at the globe and think “we can either fork a stable coin and have completely control, or we can give a group of kids and a ton of anons control of this process” and choose to empower frax as its primary crypto strategy.
I don't think it is likely - but that would be the vehicle and rationale
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