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[sh199]

Fed Chairman Jerome Powell told stablecoins should be directed to more stringent regulation and used like bank deposits or money market funds. He was asking especially about the Tether. (most usable stablecoin). These statements he made during his semi-annual monetary policy report to congress.
What do you think about this?

 

[Josemendez]

Well to an extent it should be because doing the business like having a coin pegged to the Fiat currency needs a good reserve and Government regulation

 

[LutherKing]

Yes , It Can Be Implemented , If Every Bank Gives You An Option To Deposit Tether In Your Account By Creating A Wallet for You With Name Tag That Would Be Awesome

 

[CyberPreNurse]

I don't think there is anything special about stable coins that would even warrant them getting stricter regulations than other cryptocurrencies. This is unfair.

 

[LutherKing]

Because the government thinks that stable coins can take more of markers money than their fiat can so they favor to imply a ban to it .

 

[Chibson]

I'm definitely not in support of this. The government and some firms are simply doing everything possible to have control over cryptocurrencies.
Tether is a decentralized stablecoin, and it shouldn't be regulated.

 

[Josemendez]

I'm definitely not in support of this. The government and some firms are simply doing everything possible to have control over cryptocurrencies.
Tether is a decentralized stablecoin, and it shouldn't be regulated.

The issue tether is having is because of being stables and pegged to 1$. There is a believe by SEC that the company launder money through it

 

[Chibson]

The issue tether is having is because of being stables and pegged to 1$. There is a believe by SEC that the company launder money through it

Okay, I now get it. Tether is of no doubt the most used stablecoin along side others like busd. It is quite possible to launder money through it though.

 

[Wisdom01]

There are really a lot of stable coins and most even represent dollar , so it would be good if they are regulated , so people are not scammed off their investment

 

[Josemendez]

Okay, I now get it. Tether is of no doubt the most used stablecoin along side others like busd. It is quite possible to launder money through it though.

Secondly , since it is digital and can be minted , they can continue to mint more of it as they like thereby making illegal money from such Business

 

[Mariappa45]

Already most of the stable coins are regulated, USDT coin is a centralized coin, that's why it is very hard to use it for fraudulent posses like the way other defi coins are used.

 

[GoldenLady]

Excessive printing of money is not good for any economy. However involvement of the government in control of any form of stable coin would be a bad move against decentralization.