According to your explanation, stablecoins are benefiting the US government and the USD. So can you explain to me why they are trying to destroy Binance's BUSD? According to the latest announcement, BUSD will be completely phased out in February 2024. BUSD used to be the 3rd largest stablecoin by market capitalization after USDT and USDC. I think the fact that the SEC or the government hasn't attacked stablecoins yet is because the timing is not right. They will probably find a way to destroy it when their CBDC is released, IMO.
Exactly, it is not as if the US government is protecting stable coins, and it should be obvious that it is the opposite, due to the existence of stable coins governments around the world lost the ability to more easily track the activities of the market participants, as if those coins did not existed then you will need to sell for fiat and receive an incoming transaction to your bank account, and then you could be subjected to all kind of questions about the source of your funds, so we can be sure that an attack on all stable coins is coming, we just do not know when it will happen. 
Topic: Why are stable coins free from SEC ? - page 2. (Read 551 times)
Not all stable coins as save or free from SEC Commission, did you see latest news with BUSD as Binance stable coins must removed on their pair trading after losing against SEC. Actually only USDT as United State fiat are securing from SEC investigation and they won't have any new stable coins with difference name. SEC Commission is not good impact for cryptocurrency and not all stable coins are save from their investigating except with USDT, for securing your stable coins assets with long term holding USDT is the best option and until longer time not any investigate from SEC Commission and keep secure as investment assets in the future.
I don't sure until how long investigate did by SEC to all cryptocurrency coins except they have special coins without investigating yet USDT, but if have another popular new stable coins in the future actually will not secure from SEC.
I don't sure until how long investigate did by SEC to all cryptocurrency coins except they have special coins without investigating yet USDT, but if have another popular new stable coins in the future actually will not secure from SEC.
SEC would mostly be regulating securities law, the idea of for profit investment schemes. I dont know the legal definitions and how they view each blockchain but some companies especially the centralized ones willl work with government to stay in the clear. The stable coin idea is a myth imo but they arent alone, many things completely recommended and regulated can fall apart despite ticking all the boxes they arent able to stay balanced. The economy is not a government invention any more then the tide on the shore line does whats its told to any degree.
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jurisdiction of the United States.
The dollar is global which can make that idea confusing because it could be most of the world is cast in that shadow, if only because trading partners dont want to be out of step on banking regulations I suppose.
It all depends on who is the issuer of the stable coins. The SEC can only affect what is in the jurisdiction of the United States. Also, the SEC needs to prove that a particular stablecoin is a security, and that is not easy to do. Therefore, most stablecoins are not subject to SEC oversight.
The SEC's case against Binance, among other violations, was that they didn't register BUSD. Stablecoins aren't immune from government crackdowns but realistically, Bitcoin represents a greater threat to these government agencies than any asset backed coin. The government has the means to seize assets and render stablecoins useless. They obviously don't have this power with Bitcoin.
It's not just BUSD they are after, it's algorithmic stablecoins like Terra's UST they were fierce about stopping too.
This kind of stablecoin is what caused the whole crypto crash of 2022 in the first place and had no regulatory checks and balances to stop it from being unpegged, so that was very dangerous. Well the feds learned their lesson and banned algorithmic stablecoins in the USA.
Tether is another one I'm mistrustful about, because it's not 1:1 backed, so all shit will go loose again if any shady accounting is discovered.
Stable coins, such as Tether (USDT) or USD Coin (USDC), are designed to maintain a stable value tied to a specific asset, usually a fiat currency like the U.S. dollar. These stable coins strive to provide stability and eliminate the volatility commonly associated with other cryptocurrencies like Bitcoin or Ethereum.
While stable coins may not be exempt from regulation, they are often seen as less likely to fall under the regulatory purview of the SEC when compared to other types of cryptocurrencies. This is because stable coins backed by fiat currency are typically considered as a digital representation of the underlying asset.
No stable coins are typically made by the government.
While stable coins are not directly issued by governments, some projects may collaborate with financial institutions and follow regulatory guidelines. For example, USDC (USD Coin) is a stable coin co-founded by Coinbase and Circle, which follows a regulated framework and maintains transparency in its operations. Tether (USDT) is another popular stable coin that aims to maintain a 1:1 ratio with the U.S. dollar, but it has faced scrutiny regarding its financial backing.
While stable coins may not be exempt from regulation, they are often seen as less likely to fall under the regulatory purview of the SEC when compared to other types of cryptocurrencies. This is because stable coins backed by fiat currency are typically considered as a digital representation of the underlying asset.
No stable coins are typically made by the government.
While stable coins are not directly issued by governments, some projects may collaborate with financial institutions and follow regulatory guidelines. For example, USDC (USD Coin) is a stable coin co-founded by Coinbase and Circle, which follows a regulated framework and maintains transparency in its operations. Tether (USDT) is another popular stable coin that aims to maintain a 1:1 ratio with the U.S. dollar, but it has faced scrutiny regarding its financial backing.
Not all stablecoins are safe but of course stablecoins that are accepted by the US government and the SEC will remain safe as they promote centralization and government control.
Recently PayPal launched its own stablecoin and it has a lot of support from the US government because PayPal is fully subject to US regulatory laws regarding KYC, AML is fully dollar backed of course this will enhance the dominance of the dollar around the world thanks to the widespread services of PayPal around the world.
Control is what the United States seeks, and it does not matter if this happens through the paper dollar or the digital dollar.
This is about what I wanted to say. Dollar-backed stablecoins are generally beneficial to the US as a nation. For the amount of stablecoins issued into circulation, the cash mass of paper dollars should be withdrawn from circulation. On the one hand, interest and demand for the dollar is growing, even if it is digital, and on the other hand, inflation in the United States is decreasing, as the amount of cash is decreasing.Recently PayPal launched its own stablecoin and it has a lot of support from the US government because PayPal is fully subject to US regulatory laws regarding KYC, AML is fully dollar backed of course this will enhance the dominance of the dollar around the world thanks to the widespread services of PayPal around the world.
Control is what the United States seeks, and it does not matter if this happens through the paper dollar or the digital dollar.
But in any case, there will be control over private and commercial stablecoins. States are just not in a hurry right now. They will take appropriate action when the right conditions are ripe for it.
According to your explanation, stablecoins are benefiting the US government and the USD. So can you explain to me why they are trying to destroy Binance's BUSD? According to the latest announcement, BUSD will be completely phased out in February 2024. BUSD used to be the 3rd largest stablecoin by market capitalization after USDT and USDC. I think the fact that the SEC or the government hasn't attacked stablecoins yet is because the timing is not right. They will probably find a way to destroy it when their CBDC is released, IMO.
Have anyone wonder why stable coins are safe all this while from Gensler and SEC, even the government? Why hasn't there any hunt on those centralized stablecoins? Is there something we don't know? Are stable coins somehow settled with the government and SEC behind the curtain?
Because if stable coins was target it will be a enormous hit to the whole crypto market, why haven't such thing happened yet? I also read where the former Binance.US said that the White House is trying to keep stable coins "out of discussions" like they know something.
Is this all about saving their USD? Or they are waiting to create CBDC successfully first before they go after stable coins?
Governments are simply not jumping to conclusions about various private and commercial stablecoins just yet. But this does not mean that after some time they will not be attacked by them. Stablecoins are essentially the digital currency of the same states whose national money is used by stablecoins as their collateral. For now, governments are busy issuing their own CBDCs, and they will presumably compete with the current decentralized and not-so-decentralized stablecoins. Therefore, governments will collect various facts of abuse in the field of implementation of these stablecoins and begin to gradually restrict their circulation. How this will end is hard to say. This will be influenced by many factors that, from the current position, may or may not occur. Because if stable coins was target it will be a enormous hit to the whole crypto market, why haven't such thing happened yet? I also read where the former Binance.US said that the White House is trying to keep stable coins "out of discussions" like they know something.
Is this all about saving their USD? Or they are waiting to create CBDC successfully first before they go after stable coins?
Not all stablecoins are safe but of course stablecoins that are accepted by the US government and the SEC will remain safe as they promote centralization and government control.
Recently PayPal launched its own stablecoin and it has a lot of support from the US government because PayPal is fully subject to US regulatory laws regarding KYC, AML is fully dollar backed of course this will enhance the dominance of the dollar around the world thanks to the widespread services of PayPal around the world.
Control is what the United States seeks, and it does not matter if this happens through the paper dollar or the digital dollar.
This is about what I wanted to say. Dollar-backed stablecoins are generally beneficial to the US as a nation. For the amount of stablecoins issued into circulation, the cash mass of paper dollars should be withdrawn from circulation. On the one hand, interest and demand for the dollar is growing, even if it is digital, and on the other hand, inflation in the United States is decreasing, as the amount of cash is decreasing.Recently PayPal launched its own stablecoin and it has a lot of support from the US government because PayPal is fully subject to US regulatory laws regarding KYC, AML is fully dollar backed of course this will enhance the dominance of the dollar around the world thanks to the widespread services of PayPal around the world.
Control is what the United States seeks, and it does not matter if this happens through the paper dollar or the digital dollar.
But in any case, there will be control over private and commercial stablecoins. States are just not in a hurry right now. They will take appropriate action when the right conditions are ripe for it.
It's great that others have mentioned a lot of cases where the SEC expressed their negative attitude toward various stable coins. I want to focus on another matter. The SEC is pretty consistent on what fall under their regulations: securities or something very similar to securities. But here we hit a weird spot because the SEC seems to believe that stablecoins are close enough to securities that they should be registered as such. On the other hand, some argue that since there's no expectation of profiting when it comes to stablecoins, they aren't securities and thus shouldn't be under the SEC.
In any case, it seems that the op is wrong in assuming that stable coins are free from the SEC, at least if the SEC's position on the matter counts.
In any case, it seems that the op is wrong in assuming that stable coins are free from the SEC, at least if the SEC's position on the matter counts.
The SEC's case against Binance, among other violations, was that they didn't register BUSD. Stablecoins aren't immune from government crackdowns but realistically, Bitcoin represents a greater threat to these government agencies than any asset backed coin. The government has the means to seize assets and render stablecoins useless. They obviously don't have this power with Bitcoin.
Have anyone wonder why stable coins are safe all this while from Gensler and SEC, even the government? Why hasn't there any hunt on those centralized stablecoins? Is there something we don't know? Are stable coins somehow settled with the government and SEC behind the curtain?
Because if stable coins was target it will be a enormous hit to the whole crypto market, why haven't such thing happened yet? I also read where the former Binance.US said that the White House is trying to keep stable coins "out of discussions" like they know something.
Is this all about saving their USD? Or they are waiting to create CBDC successfully first before they go after stable coins?
Stablecoins are backed by fiat currencies and are therefore in a sense not securities/speculative assets. They are called stable for a reason. Because if stable coins was target it will be a enormous hit to the whole crypto market, why haven't such thing happened yet? I also read where the former Binance.US said that the White House is trying to keep stable coins "out of discussions" like they know something.
Is this all about saving their USD? Or they are waiting to create CBDC successfully first before they go after stable coins?
This fact alone is a great cause as to why the SEC’s not pushing to boycott the whole stablecoin market. For one it’s the mirror of reflection from the inside, allowing SEC to assume control over the little autonomy they have within the industry. Another is the fact that it would just be a massive bummer for everyone involved if they were to ban crypto, and with them trying to paint the picture that they aren’t cryptohaters. This wouldn’t sit well in tve PR
Do you know where is SEC come from? they are coming from United State and probably will protect with their currency payment as dollar keep existing and have higher values for adopting around the world as payment currency transaction. There are not difference yet between stable coin in cryptocurrency or USDT with dollar using by United State citizen. SEC investigate with cryptocurrency have chance for replacing their currency and they will try many way how to make some coins have lower values and get cases with their rule.
But don't afraid with SEC against because XRP have to show the public how to beat SEC and success win due problem complicated almost two years. I don't think SEC is most danger community for investigating with cryptocurrency project, I believe one day later they will loss and give up against with cryptocurrency.
But don't afraid with SEC against because XRP have to show the public how to beat SEC and success win due problem complicated almost two years. I don't think SEC is most danger community for investigating with cryptocurrency project, I believe one day later they will loss and give up against with cryptocurrency.
The SEC is just a tool in the hands of global bitcoin manipulators. When bitcoin needs to collapse, bad SEC decisions appear, and when the price needs to grow, SEC decisions are canceled. Stablecoins are a safe haven that they try not to touch (but only the major stablecoins).
Have anyone wonder why stable coins are safe all this while from Gensler and SEC, even the government? Why hasn't there any hunt on those centralized stablecoins? Is there something we don't know? Are stable coins somehow settled with the government and SEC behind the curtain?
Because they are not Security tokens and they are regulated through the issuer of the token. Security tokens by definition is transferring ownership rights and asset value to tokens such as stocks, bonds and etc. Stablecoins is just a digital dollar that is pegged by real USD on the banks.
SEC has no say on assets that is not an investment like Stablecoins since it's just a tokenized dollars while the rest of the Shitcoin which SEC being sued launch unregulated IDO and other form of funding to raise money in exchange for the tokens or simply they sell tokens of their company for a promise of return to investment.
Do you know where is SEC come from? they are coming from United State and probably will protect with their currency payment as dollar keep existing and have higher values for adopting around the world as payment currency transaction. There are not difference yet between stable coin in cryptocurrency or USDT with dollar using by United State citizen. SEC investigate with cryptocurrency have chance for replacing their currency and they will try many way how to make some coins have lower values and get cases with their rule.
But don't afraid with SEC against because XRP have to show the public how to beat SEC and success win due problem complicated almost two years. I don't think SEC is most danger community for investigating with cryptocurrency project, I believe one day later they will loss and give up against with cryptocurrency.
But don't afraid with SEC against because XRP have to show the public how to beat SEC and success win due problem complicated almost two years. I don't think SEC is most danger community for investigating with cryptocurrency project, I believe one day later they will loss and give up against with cryptocurrency.
Because if stable coins was target it will be a enormous hit to the whole crypto market, why haven't such thing happened yet? I also read where the former Binance.US said that the White House is trying to keep stable coins "out of discussions" like they know something.
Is this all about saving their USD? Or they are waiting to create CBDC successfully first before they go after stable coins?
Different types of stablecoins with different names and who launched them. An example of BUSD from Binance because the exchange that issues it, the SEC has more freedom to play. But what if the government issued its own Stablecoin in crypto form? looks safe or is always not taken seriously. That's why this distinction is quite clear. As long as it is centralized and the SEC itself is controlled under the auspices of certain institutions, it does not rule out the possibility that everything will go well. This is all still under the same title, which is only about profit control.Is this all about saving their USD? Or they are waiting to create CBDC successfully first before they go after stable coins?
I understand that it is not a simple job and we are going to see a lot of troubles and investigations and courts and all that, but in the end it will be allowed to continue as long as SEC could put their hands on it. Right now, it is all like that and all the major ones have at least one office in the USA and if anything goes wrong SEC could just raid that office and investigate what's going on and they could decide on what went wrong as well.
Stablecoins really offer stability and solvency in the crypto space, especially when compared to bitcoin.
However, centralization and control can still be an issue for stablecoins. The involvement of regulators can create a degree of control to ensure transparency and compliance with financial regulations. This can be beneficial for the sustainable development of the cryptocurrency market, but at the same time raises questions about the independence and decentralization that cryptocurrencies aim for.
However, centralization and control can still be an issue for stablecoins. The involvement of regulators can create a degree of control to ensure transparency and compliance with financial regulations. This can be beneficial for the sustainable development of the cryptocurrency market, but at the same time raises questions about the independence and decentralization that cryptocurrencies aim for.
Have anyone wonder why stable coins are safe all this while from Gensler and SEC, even the government? Why hasn't there any hunt on those centralized stablecoins? Is there something we don't know? Are stable coins somehow settled with the government and SEC behind the curtain?
I don't think there's anything strange with that, they're already centralized thus, SEC can control that easily so they wouldn't need to hunt for them.Because if stable coins was target it will be a enormous hit to the whole crypto market, why haven't such thing happened yet? I also read where the former Binance.US said that the White House is trying to keep stable coins "out of discussions" like they know something.
Is this all about saving their USD? Or they are waiting to create CBDC successfully first before they go after stable coins?
Stable coins aren't really different from CBDC so it's like their own as well. It's not that surprising anymore if they won't target the stable coins because all of them can provide proofs that they're legitimate backed up with real money.Is this all about saving their USD? Or they are waiting to create CBDC successfully first before they go after stable coins?
That's the least that they can do for them to be stopped being hunted by the SEC.
Have anyone wonder why stable coins are safe all this while from Gensler and SEC, even the government? Why hasn't there any hunt on those centralized stablecoins? Is there something we don't know? Are stable coins somehow settled with the government and SEC behind the curtain?
Because if stable coins was target it will be a enormous hit to the whole crypto market, why haven't such thing happened yet? I also read where the former Binance.US said that the White House is trying to keep stable coins "out of discussions" like they know something.
Is this all about saving their USD? Or they are waiting to create CBDC successfully first before they go after stable coins?
Because if stable coins was target it will be a enormous hit to the whole crypto market, why haven't such thing happened yet? I also read where the former Binance.US said that the White House is trying to keep stable coins "out of discussions" like they know something.
Is this all about saving their USD? Or they are waiting to create CBDC successfully first before they go after stable coins?
You need to understand why SEC is after some particular coins and tokens and not USDT, BTC, ETH.
From the definition of securities, I quote:
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What are securities and examples?
At a basic level, security is a financial asset or instrument that has value and can be bought, sold, or traded[1].
At a basic level, security is a financial asset or instrument that has value and can be bought, sold, or traded[1].
That being said; Sec believes that more than 70% of tokens in the crypto market are believed to be securities and for them to be traded or sold in the United States, they need to be formally registered and anything without the registration is term as illegal and crime and that is why you see the other day, they Sued Coinabase, Matic, Solana, Avalanche, Cardano and others for Violating the SEC rules and regulations.
USDT on the other hand, the SEC has not ruled anything for the stablecoin but they fine Binance for issuing BUSD as security and that begs the question if they are hiding something from the public, stablecoins are not an investment in the US, they are redeemable to fiat in equivalent 1:1 ratio, perhaps they have been lobbying the SEC or did some registration to avoid been scrutinized because BUSD is not an investment and USDT is not an investment either. The two are never USDT at least to my basic level of understanding why SEC has been attacking other projects.
[1] https://www.thestreet.com/dictionary/s/security#:~:text=At%20a%20basic%20level%2C%20a,%2C%20mutual%20funds%2C%20and%20ETFs.
Have anyone wonder why stable coins are safe all this while from Gensler and SEC, even the government? Why hasn't there any hunt on those centralized stablecoins? Is there something we don't know? Are stable coins somehow settled with the government and SEC behind the curtain?
Because if stable coins was target it will be a enormous hit to the whole crypto market, why haven't such thing happened yet? I also read where the former Binance.US said that the White House is trying to keep stable coins "out of discussions" like they know something.
Is this all about saving their USD? Or they are waiting to create CBDC successfully first before they go after stable coins?
Because if stable coins was target it will be a enormous hit to the whole crypto market, why haven't such thing happened yet? I also read where the former Binance.US said that the White House is trying to keep stable coins "out of discussions" like they know something.
Is this all about saving their USD? Or they are waiting to create CBDC successfully first before they go after stable coins?
If they can show the proof of reserves for the stablecoins, there is no legal cases against the stable coins. That is the my view regarding your question. But it does not means it will not happen in the future. We need the SEC to find the loopholes of the crypto market.
Is this all about saving their USD? Or they are waiting to create CBDC successfully first before they go after stable coins?
Maybe they gave also realized that the right target shouldn't be stablecoin but bitcoin, if you can win over the head, then other branches and tentacles could not be a threat to have victory over again, they have made series of attack on bitcoin and since it all avail to nothing, they also make moves in creating their own digital fiat called CBDC which the people still rejects to embrace the decentralized network only, we should know that without bitcoin, there's no existance for any form of digital currency be it stablecoin or altcoins because bitcoin is the head of cryptocurrency, they can't attack others than to set before ahead, whereas stable us not volatile as cryptocurrency, they are pegged with the USD standard rates, which is still fare and ok by them to an extent.
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