TETHER STABLE BUT NOT SO STABLE ⚡️🕳⚡️

over 2 years ago

Hello,

The Futur perspective around cryptocurrencies is suddenly odd .

Like i said in my previous article ,
All the cryptos banks will open and become one .
Everything is traceable from day one and all will be seen .

Stable coins will not be the untouchable parallel .

🌵🌵🌵🌵🌵🌵🌵🌵🌵🌵🌵

Tether announced on Twitter on November 25 its wish to work with lawmakers from various governments to address any issues associated with stablecoins. the company said it was ready to work together to change the industry.

In the same Twitter ligne , Tether shared a press release from Senator Sherrod Brown, who chairs the US Senate Committee on Banking, Housing and Urban Affairs. Indeed, Brown sent letters to stablecoin issuers and exchanges asking them about how they protect investors. The recipients of the letter include :

💎Coinbase
💎Paxos
💎Gemini
💎Trust Token
💎Binance.US
💎Tether.

Tether's tweets were a response to this press release. Like many other stablecoin issuers, it appears open to work on compliance and help regulators' concerns.
Tether itself has been at the center of much controversy, largely related to its USDT reserves. Circle, the issuer of the USD Coin (USDC) stablecoin, declared earlier this year that it plans to make efforts to become more transparent and meet current accountability standards.
In early October 2021, the SEC issued a subpoena to the exchange, but the exchange gave its OK to cooperate fully with the regulator.

Stablecoins have become a major concern for lawmakers. They fear that they threaten national currencies and present international economic problems. Therefor regulation would be an answer .

🌵🌵🌵🌵🌵🌵🌵🌵🌵🌵🌵🌵

Several countries are preparing regulations for this type of digital asset or, where appropriate, control mechanisms.

🌵🌵🌵🌵🌵🌵🌵🌵🌵

Regulation of stablecoins is inevitable
The flood of news related to stablecoins in recent months shows just how determined governments are to channel this asset class. All the countries of the world are doing their part.

For example, G20 members have called for regulation of stablecoins before their use is approved.
They also recommended the deployment of central bank digital currencies (CBDCs)
ahead of global stablecoin approval.

Some governments are also preparing regulations, including the US government. At the end of last month, several sources revealed that the SEC intended to focus on the stablecoin market. However, few details have been released since. According to the same sources even called stablecoins “poker chips” and called for an larger surveillance of the sector.

🌵🌵🌵🌵🌵🌵🌵🌵🌵🌵🌵🌵

The Consumer Financial Protection Bureau (CFPB) in the United States has also launched a large investigation into stablecoins. Director Rohit Chopra said that if a large tech company issues stablecoins, it is likely to gain public interest, provided it takes advantage of its large user base. Maybe he was referring to stablecoin Diem, which has been a major concern for many regulators.

Stable coins will no longer be a safe place
It is another cryptocurrency and unless there is a strong and steady will to move forward into protecting our assets , it will become just another brick in the wall .

May the end of the tunnel be wide enough.

Check out @huckleberrie Token
@theherbalhive community
@ecotrain community