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It is now for regulation-compliant stablecoins. Also KYC checks and AML blacklisting.

• rahimnathwani 6y ago
  Does this mean that Dai (which does relies on market mechanisms rather than than reserves) is not compliant with regulations, but USDT is? Which regulations?
  • jl2718 6y ago
    Yes. https://tlaib.house.gov/sites/tlaib.house.gov/files/STABLEAct.pdf https://tlaib.house.gov/sites/tlaib.house.gov/files/STABLEAc... I don’t know what that means for DAI. An interpretation of the law may mean that exchanges would not be able to sell it. And the owner would normally be liable for breaking the law, which is every MKR holder, so I don’t know how they plan on doing that. But honestly, it never works out that way. Laws get passed, regulators take out easy targets, and the big guys tie them up in court until they get the laws they want.
    • cinquemb 6y ago
      They'll be able to easily go after centralized collateralized stable coins, not so much for decentralized ones (except to the extent that the collateral is centralized, if any collateral exists at all [i.e uncollateralized algo stable coins])…