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What is a 2-tiered banking system, and what is it comprised of? The BIS answers this question in today’s annual meeting. $RLUSD is presently a regulated stablecoin being accepted in the Japanese banking system.

Mr. Man

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Bessent: "These 2008, 2009, 2010 financial rules were too tight. They hamstrung the American financial system. It was time for a change. We're gonna be safe, smart, and sound in terms of our deregulation. But we have to take the financial system out of this straitjacket. This substantial increase in private credit which is outside of the regulated banking system -- that tells me that the regulated system is too constrained."

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