Luckily all these regulations only apply to centralized banks (aka exchanges). There isn't really anything they can do about products like DAI or HBD except get them delisted from the exchanges. HBD has the internal market while DAI has Uniswap and other DEXes so it's not that big of a deal... in fact harsh regulations against traditional stable coins might push everyone to the decentralized options, which could actually help networks that issue decentralized stablecoins like Hive and ETH.
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It doesn't stop there, Rohan Grey who advised the person making "The Stable Act" bill also wants to ban crypto nodes in the US, making it illegal to run a full node, witness node, and any node that has to do with Crypto.
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This is why its critical to be able to run nodes on regular PCs (including Windows Home) in people's homes, and not need external server providers.
This is what I am doing with my witness node to show the way.
BTW I've had 100% uptime for almost a month.
It will be impossible to enforce a ban if it would involve going house to house trying to find nodes.
But much easier if it just involves prosecuting a few companies and their US based Exec providing outsourced servers.
Yep, that makes more sense. Especially when networks start doing super "illegal" stuff like undercutting state lotteries and disrupting other sectors.
Make math illegal. Smart.