(I still can't see PP adding USDT coins to its features ever).
I wouldn't be surprised to see something like PUSD token created by PayPal to compete with USDT and similar centralized shitcoins. There is a good profit in processing payments while having full control over the shitcoin's network considering the huge altcoin trading volume that uses stablecoins. 
Topic: The United States turns its attention to stablecoin regulation. - page 2. (Read 302 times)
Governments have never shown any interest in helping anything that is "decentralized" that would reduce their power and control over money. None of the things they would ever do is going to help anything in decentralized world, specially the US government that has never looked kindly on those who would go against the USD dominance.
When it comes to stablecoins, they are simply printing money which is illegal. So if anything the government is going to shut them down in the name of "regulations".
When it comes to stablecoins, they are simply printing money which is illegal. So if anything the government is going to shut them down in the name of "regulations".
They probably won't even do anything about Tether USD which has long been accused of being a market manipulation tool of Bitfinex (its parent company). But if this aspect inconveniences the payment processors too much - the ones who will integrate it like PayPal for example - they would simply shut it down or at least prevent it from operating in the USA (I still can't see PP adding USDT coins to its features ever).
We can see that this country shows some interest in helping cryptocurrencies, perhaps to facilitate the operation of these platforms, either for its own benefit or for its citizens.
Governments have never shown any interest in helping anything that is "decentralized" that would reduce their power and control over money. None of the things they would ever do is going to help anything in decentralized world, specially the US government that has never looked kindly on those who would go against the USD dominance.When it comes to stablecoins, they are simply printing money which is illegal. So if anything the government is going to shut them down in the name of "regulations".
Also, what do they plan to do about decentralized stablecoins?
They don't exist. 
So did the USA government realize that stablecoins are already a big foe to their incoming digital-Dollar or they are planning to integrate stablecoins to their future digital dollar?
Also, what do they plan to do about decentralized stablecoins?
Will they force Centralized exchanges only to operate with "licensed" stablecoins or else they get in trouble?
I can easily see Binance and Coinbase announcing they would cease to work with DAI because the suits told them so.
Also, what do they plan to do about decentralized stablecoins?
Will they force Centralized exchanges only to operate with "licensed" stablecoins or else they get in trouble?
I can easily see Binance and Coinbase announcing they would cease to work with DAI because the suits told them so.
"The so-called Stablecoin TRUST Act for short, makes the US probably the only country, or at least the only Western country, that fully regulates and accepts stablecoins as an official part of the financial and banking system."
so in short they accept stablecoin for payment, i do aggree if they gonna accept crypto especially stable one but they also need to run full audit to stablecoin before they start accepting it for financial and banking system
so in short they accept stablecoin for payment, i do aggree if they gonna accept crypto especially stable one but they also need to run full audit to stablecoin before they start accepting it for financial and banking system
This kind of policy is long overdue. I hope this Act will be signed into law sooner rather than later. For quite a while already, the likes of Tether's USDT thrives in the market without much regulations. The stablecoin has reached tens of billions in value despite its shady and questionable reputation. Transparency is wanting. With this Stablecoin TRUST Act, stablecoin issuers will have to shape up or else they won't be issued with a license.
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The US remains a world leader in the regulation and adoption of the cryptocurrency industry, but the Stablecoin TRUST Act may set some barriers for newcomers.
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The US president announced a “whole of government” approach to regulating cryptocurrencies in a general executive order directing various government agencies to answer specific questions about cryptocurrencies.
We can see that this country shows some interest in helping cryptocurrencies, perhaps to facilitate the operation of these platforms, either for its own benefit or for its citizens.
Quote
The so-called Stablecoin TRUST Act for short, makes the US probably the only country, or at least the only Western country, that fully regulates and accepts stablecoins as an official part of the financial and banking system.
We must emphasize that, as the name implies, Stablecoins are stable payment currencies, so they can be converted directly into fiat currency. What does this mean? Because this will have the advantage of being more controllable and the issuing government will be able to more reliably process the supply of credit, liquidity and interest rates.
With this we can deduce that this law practically encourages in a certain way the issuers of Stablecoins to abide by certain rules. For example, these people will need to acquire or have in order the OCC license and a traditional banking charter, and when operating such stablecoins, they will need to ensure regular audits, spell out clear exchange policies, and specify what actually backs the stablecoins they use. .
¿What do you think of the direction the US is taking with stablecoin regulation?
Information extracted from: https://cointelegraph.com/news/the-united-states-turns-its-attention-to-stablecoin-regulation
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