Actually I think that these moves are not related to protecting American citizen, nor American businesses. I think that it's meant to pave the way for the upcoming CBDC. And that's, sorry, overly hypocrite.
Very old wisdom: "What is good for a citizen is bad for the state and vice versa". A friend who was in Davos said that the CBDC trend is a priority and by 2026 CBDC will be in Europe, the USA, Russia, Japan and other countries. This is just the beginning. And all the crypto exchanges that remain on the market will be banks. Regulation will be the same as banks, so only the largest will survive.
That's correct. It's an unfortunate reality we should not deny.
While the migration to bitcoin standard would have been much more beneficial for the citizen, ... that old wisdom you posted tells the story.
So we'll get CBDCs. However, as you said, the largest, the "fittest" will survive. And we know that the current stable coins are not so fit and, excepting Tether, they're not large either. So.. I don't see why they're bashing them already... unless they really want to implement into CBDCs all the bad features we're afraid of and we're talking about every time CBDCs come into discussion (full control of the state on people's money, from history of transactions to seizing the funds from inside people's wallets). And then no sane individual would touch those. Something doesn't seem to add up...
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