What if mass crypto adoption looks like millions of people using stablecoins issued by their banks? The Fed has proposed a framework for banks under its supervision to issue their own stablecoins, with full reserve backing and capital requirements. These are proposed rules, not final ones. But the possibility is clear: banks could become the first place many people encounter crypto. For $BTC, that raises a much bigger question. Would bank-issued stablecoins make people curious about money they can hold without a bank, or give them enough convenience to never ask?