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What!? how is there a TOS on a coin? Maybe TOS on a gateway site?
by djbusby 4y ago
What!? how is there a TOS on a coin? Maybe TOS on a gateway site?
- E4YomzYIN5YEBKe 4y agoA coin is code and the code for pretty much every stable coin allow the creator to prevent coins from being sent to/from blacklisted addresses. Tether freezes $150 million in USDT https://cointelegraph.com/news/tether-freezes-150-million-in-usdt https://cointelegraph.com/news/tether-freezes-150-million-in... Circle Confirms Freezing $100K in USDC at Law Enforcement's Request https://www.coindesk.com/markets/2020/07/08/circle-confirms-freezing-100k-in-usdc-at-law-enforcements-request/ https://www.coindesk.com/markets/2020/07/08/circle-confirms-...
- aabhay 4y agostable coins with redemption must be centralized at the point of fiat exchange.
- FabHK 4y agoThere are 1. purely algorithmic stable coins (on-chain), such as UST. Voodoo, if you ask me. Can be decentralised. 2. (over)collateralised stable coins (on-chain), such as DAI (not DEI, which is at issue here). Collateralised by other crypto, smart contracts, and what have you. Can still be decentralised. 3. collateralised stable coins (off-chain), such as USDC or (allegedly) USDT. Those are collateralised by good old USD (or treasuries or commercial paper). Those need a central authority that holds on to the USD (or whatever form the collateral takes). So, makes sense that they have TOS.