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The problem isn't the concept, it's the backing. If the Fed were to announce an official USD stablecoin on Ethereum the chain could be used for international se
by nly 4y ago
The problem isn't the concept, it's the backing. If the Fed were to announce an official USD stablecoin on Ethereum the chain could be used for international settlement.
Of course, that will never happen as having the ability to restrict capital flows is a key power government wants to retain.
- rollcat 4y ago> The problem isn't the concept, it's the backing. If the Fed were to announce an official USD stablecoin [...] This sits right next to the sibling poster's comment: > The US dollar is regulated and it’s use and transfer crates all kind of legal issues [...] It looks like people who want stablecoins can't even agree on why they want them.
- netheril96 4y agoMost stable coins do have the power to restrict capital flows. USDT and USDC both can unilaterally freeze the coins of arbitrary addresses.