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Stablecoins don’t need to have proof of reserves or any other normal regulatory requirements banks have.
by conception 1y ago
Stablecoins don’t need to have proof of reserves or any other normal regulatory requirements banks have.
- hoppp 1y agoCircle has proof of reserves, fully regulated and I can use USDC like a regular ERC20, so I think they want the same.
- kiitos 1y agoFull attestation doesn't guarantee stable 1-to-1 valuation, even with all of those things USDC isn't equivalent to 1USD and treating it as if it were carries risk.
- hoppp 1y agoDefinitely,but the Us dollar also carries risk so really there are no risk free assets.
- kiitos 1y agoI mean, in the absolute sense, sure, but the "risk" carried by USD is a categorically different, exponentially smaller thing than the "risk" associated with any stable coin. They're not really comparable.