Taming Wildcat Stable Coins

> The newest type of private money is now upon us—in the form of stablecoins

This is a bit obtuse to the fact that if a stablecoin is decentralized (most wouldn't get taken seriously if they weren't) and its reserves are decentralized, then the stablecoin is by definition not privately owned or controlled. You could argue a stablecoin like DAI is more public than any issuer of USD.