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@Sovereign @cjd @DrBtc @jb
i looked in to the reason:
Tether has frozen two Tron-based wallets holding about $344 million in USDT, marking one of its largest enforcement moves to date. One wallet contained roughly $212.9 million, while the other held $131.3 million. The action was carried out in coordination with the U.S. Office of Foreign Assets Control (OFAC) and other law enforcement agencies as part of ongoing investigations into illicit financial activity. The move reflects Tether’s increasing role in supporting global regulators by blacklisting suspicious funds and tightening oversight of stablecoin flows across blockchain networks.
Okay?...... so since they can do this type of thing then in my opinion tether might as well be a CBDC.. fuck that
is there any coin that is pegged to the dollar that doesn't have a smart contract that allows them to have centralized control like this? or would it be impossible to keep the price pegged if they didn't have central control over the coin?..
i looked in to the reason:
Tether has frozen two Tron-based wallets holding about $344 million in USDT, marking one of its largest enforcement moves to date. One wallet contained roughly $212.9 million, while the other held $131.3 million. The action was carried out in coordination with the U.S. Office of Foreign Assets Control (OFAC) and other law enforcement agencies as part of ongoing investigations into illicit financial activity. The move reflects Tether’s increasing role in supporting global regulators by blacklisting suspicious funds and tightening oversight of stablecoin flows across blockchain networks.
Okay?...... so since they can do this type of thing then in my opinion tether might as well be a CBDC.. fuck that
is there any coin that is pegged to the dollar that doesn't have a smart contract that allows them to have centralized control like this? or would it be impossible to keep the price pegged if they didn't have central control over the coin?..
@FF777 @DrBtc @jb @cjd The problem with not having a CBDC though is that you have a harder time ensuring that peg. There are plenty of examples of "stable"coins destabilizing and making a bunch of people lose money. Although I fully get the CBDC concerns, most people who beat on that anti-CBDC drum aren't providing solutions to pegged assets losing their peg lol. I'm acknowledging the concerns but also mentioning that just throwing fire on CBDCs doesn't actually bring much to the discussion.
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Switzerland solved this. Make cash payments constitutionally enforced everywhere if the citizen wishes to pay with cash.
Ironically, the EU has the same rule. You can use cash anywhere you want, "card only" shops are illegal.