Of course they want to regulate the stable coins because for sure they don't like that someone else is issuing a digital dollar, and they want to be the only ones to do it. Unfortunately the UST situation will accelerate this process.
Agreed. Actually they might be the one behind this attack because recently SEC do a comment for UST before this depegging happened. It's ironic how the timing of the attack on UST and LUNA coincides to the time when SEC is imposing proper regulation on all the ongoing stable coins right now. It just happened that UST is new and has a lot of vulnerability which is an easy target for attack like this. Poor UST.
I'm not inclined to see it that way. UST and USDT are categorically not a "digital dollar". They are IOUs, which unscrupulous companies are thrilled they've managed to dupe so many people into believing are digital dollars when they aren't. You two serve as a prime example why regulation is sometimes necessary. You've been manipulated by these companies and you don't even realise it.
Many people think it is because it was pegged to dollars so hopefully they know now the risk for having it since for what UST experiencing now they might lose their money for unwanted events. Lets just hope for now that things will go better because its really bad to see them dropping because it creates fear to the whole market also especially that LUNA is creating bad market taste to the investors or holders.
