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18 January 2021

Ethereum community explodes over proposed stablecoin act from U.S. representatives | CryptoSlate

Ethereum community explodes over proposed stablecoin act from U.S. representatives | CryptoSlate


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The crypto space, especially the Ethereum community, is not taking this lying down.

Scott Lewis, the founder of projects like DeFi Pulse, wrote that a key advocate of this STABLE Act is making some dangerous and incorrect assumptions about Ethereum and cryptocurrencies as a whole.

The advocate, Nathan Tankus, said that Ethereum users are subject to “mediation conducted by the Ethereum Foundation when they use the Ethereum Network” because no Ethereum users actually run their own nodes.

1) all Ethereum users are subject to *mediation* conducted by the Ethereum Foundation when they use the Ethereum Network 2) open source Ethereum clients can not legally be forked 3) People running their own nodes is an “industry myth” pic.twitter.com/kLg0FYdsXO.

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