That's an assertion based on a wish, not a proof. The purpose of currency is to pay for the state monopoly on violence. You want police? Police need to get paid. The people who pay them need to rely on their fealty which requires a stable rate of exchange. Extend to all public works. There's a whole book about this. Governments exist to protect commerce and that protection has currency issue as a perquisite. Full stop. Been that way since Sumer. The purpose of a stablecoin is to streamline the onramp between "currency" and "something in desperate need of stabilization." "Stabilization" has traditionally been done with large state- or state-sanctioned banks, and it's a system that has worked admirably well since well before the Federal Reserve. A stablecoin, on the other hand, puts Jeremy Allaire and his shareholders in the shoes of JP Morgan for no reason other than they lobbied for it. The way you stabilize a commodity in heavy flux is by buying it all up and then selling it slowly. This is what central banks do. This is why they have played an integral role, in one form or another, since the invention of fractional reserve banking in the Renaissance. If they were any fucking good they wouldn't need legislation and you know it.