I said this on the bird site but it might actually be important.

Just because there's no financial up side to an investment, only a risk of a financial downside, doesn’t mean an investment isn't a security.

You invested for a non financial benefit (convenience, easy of transfer, fungibility).

This is how SEC will peg stable coins.

This will affect all the stuff around Taro too. Because Taro doesn't create stable coins it just uses existing centralised ones.