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Industry presenters tell New Hampshire commission stablecoins offer 24/7 rails and tokenization promise but demand clearer disclosure and custody safeguards
Summary
Representatives from Bitco and industry groups briefed the commission on stablecoin mechanics, types, peg maintenance, tokenized deposits and AI-agent payment risks, urging clearer point-of-sale classification, attestations and use of regulated custodians.
Eugene, vice president of product at Bitco, told the Commission to Study that stablecoins can reduce settlement friction and enable programmable payments, but warned that design differences produce materially different consumer risks.
Bitco's presentation described four broad design families—fiat-backed, asset-backed, algorithmic and hybrids—and explained how pegs are maintained through a primary-market mint/burn backstop between issuers and eligible counterparties and through secondary-market liquidity and market-maker arbitrage. "There's a direct correlation with the issuer's ability to redeem," Eugene said,…
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