On: Mastercard and visa are the de facto regulators of...

[Sargos]

There are lots of stablecoins of all different types. You are probably thinking of Tether or USDC which are companies and can be regulated/shut down but there are also stablecoins like DAI which are decentralized and cannot be shut down.

I imagine most people would just use DAI on Aztec when buying porn or drugs.

[cowtools → Sargos]

From what I understand, stablecoins generally fall into two categories:

1. Relies on some central entity to buy/sell it as to peg/back it to another asset.

2. Relies on some central observer to sign exchange rates so that the system can automatically adjust its reward system.