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The difference between the orgs is massive, but the practical functioning of these stablecoins isn’t. If you can’t see how stablecoins backed by “commercial pa
by relax88 5y ago
The difference between the orgs is massive, but the practical functioning of these stablecoins isn’t.
If you can’t see how stablecoins backed by “commercial paper” (Mostly IOUs from crypto exchanges) is a bad idea I’m not sure what to tell you.
I mean we have a name for when a company does this with actual dollars and it’s called a bank, and we regulate and license those.
- alisonkisk 5y ago> (Mostly IOUs from crypto exchanges) How do you know this is true? For me the biggest red flag is that these "stable"coin companies don't make their escrow books public. There is zero reason to keep it secret, except fraud.