Why the hell has the SEC been so harsh on other crypto assets while being so "kind" with stablecoins? Which game are they playing?
There's more to it, I've gone down this rabbit hole. Those in charge are manipulating the entire crypto world. It is about control, not simply the currency. These stablecoins are centralized, which undoubtedly gives the major players and governments some backdoor control and ensures their supremacy
And is the White House attempting to exclude stablecoins from debates? What the heck are they cooking up behind the scenes, really? They may be using this time to prepare their CBDC before destroying anything that stands in their way
Topic: Why are stable coins free from SEC ? - page 4. (Read 551 times)
Stablecoins aren't free from the regulator, but it's a slightly different case than the common security token with all the ICO and stuff. I'd say the severity of harming the common consumer is way higher in these security tokens since the price can go to the moon and rekt down to oblivion. In "real" stablecoins, it didn't happen, well TUSD is an exception since it's algorithmically determined. It's just a matter of priority IMO, so SEC will come after them as well "soon"...
https://www.forbes.com/sites/joshuagarcia/2023/06/06/the-sec-is-coming-for-stablecoin-issuers-like-binance/?sh=4ab6d7044a88
https://www.forbes.com/sites/joshuagarcia/2023/06/06/the-sec-is-coming-for-stablecoin-issuers-like-binance/?sh=4ab6d7044a88
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?
These are many questions and the summary is that the US government currently has no issue with stablecoins because their values are pegged to the USD and other verifiable commodities and assets and have those assets practically backing 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?
Meaning that they can truly prove their value/worth and make backed settlements to investors/holders, unlike other cryptocurrencies. This arrangement is happening in fiats as well but they tagged theirs in $(USD) which is why people do not suspect it that way. Just like PayPal, Skrill, Perfectmoney and others, the number you see on the screen is not the real money but has the power to settle deals on their platform like the real money while the real money is in the bank or stored as other assets. That arrangement is the same with the stablecoins but its own is just in the blockchain mechanism.
In addition, most stablecoins are centralized, and the USDT which is leading them by a wide margin is also centralised. Although some face scrutiny and lawsuits by regulators, it's minimal as I don't see a reason why the government will clamp down heavily on such an arrangement.
The SEC is just a government tool that are controlled by Banks, just look how the SEC were clueless prior to the 2008 global economic crisis to detect it and to prevent it. The powers from the top even diminished a whole section to one person to make sure that the investigations into the complex derivatives were almost impossible. 
The whole Banking system are corrupt.... and they will kill all competition, so that they can profit. They rigged the rating agencies, so that they could get AAA ratings ....where most of those investment options were total shit...... so you know what they will do with other stable coins.
The whole Banking system are corrupt.... and they will kill all competition, so that they can profit. They rigged the rating agencies, so that they could get AAA ratings ....where most of those investment options were total shit...... so you know what they will do with other stable coins.
They might be free and clear under SEC but other governments are cracking down. Here in Canada there is word that USDC might be the only approved stablecoin you can hold after that Luna stablecoin caused people to lose their entire balance pretty much.
Tether is also under their radar because of the lack of audits and all the shady stuff that they did in the past. So they might be safe from SEC but eventually they will be required to be regulated.
Tether is also under their radar because of the lack of audits and all the shady stuff that they did in the past. So they might be safe from SEC but eventually they will be required to be regulated.
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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?
Well, I think it's because they are in full compliance with the SEC and the government, if there is any reason for the SEC or government to drag any of them public, there wouldn't be any hesitation. Some of those stable coins are pegged to some physical asset or backed by some locked-up funds in fiat currency.
Since they were founded, they have had dealings with government authorities in the past due to several liquidity scandals, transparency, or also internal issues with issuing companies such as TerraUST. We won't know exactly what those institutions are playing, if they are serious about killing crypto, they will stop at nothing.
One thing to watch out for
One thing to watch out for
Quote from: https://twitter.com/i/status/1666590643613990914
Haha to everyone saying “don’t give them ideas”, they’re not idiots - they’ve 100% already thought of this. 😂
Whether or not they (can) is another story.
Whether or not they (can) is another story.
SEC attacked, sued Binance USD (BUSD) that is a stable coin. Stable coin projets are like altcoin projects and they have to obey more rules on Proof of Reserves so they are more regulated than non-stable coin projects.
They are surely very centralized altcoins which make them more vulnerable to any legal problems for their projects, operations and even freeze of stable coin stored in any address which is required by governmemt.
Most stable coins can be frozen, even in your own wallets
Stable coins and blacklists
USDT - Banned addresses
SEC sued Binance USD
They are surely very centralized altcoins which make them more vulnerable to any legal problems for their projects, operations and even freeze of stable coin stored in any address which is required by governmemt.
Most stable coins can be frozen, even in your own wallets
Stable coins and blacklists
USDT - Banned addresses
SEC sued Binance USD
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 stablecoins?
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 stablecoins?
The SEC Chairman Gensler once said that stablecoins are risky and can harm the US economy, he even referred to them as poker chips at the casino. I don't think that stablecoins are free from the SEC's attacks because they are currently under scrutiny. The recent legal action against Binance also relates to its stablecoins. Binance's stablecoin BUSD and other stablecoins are at risk if they are classified as securities. Immediately stablecoins are classified as securities they will be highly scrutinized and regulated by the SEC. But SEC seems confused because they failed to include Coinbase stablecoin USDC as a security in the suit against the crypto firm. But an unfavorable ruling against BUSD might affect stablecoins like BUSD, USDT, and others if they become securities making them fall under the regulatory jurisdiction of the SEC.
How about looking at it this way:
The USDT is backed up by the United States dollar, and it happens to not have a CEO that's entirely controlling it; although it's completely centralized, there are still limits to which it can be controlled.
The USDT is backed up by the United States dollar, and it happens to not have a CEO that's entirely controlling it; although it's completely centralized, there are still limits to which it can be controlled.
Firms that issue stablecoins claim that each coin is backed by dollars. This claim cannot be fully proven to be true because their accounts are not audited by any authority and for now, their operations are not regulated. That's why they need to be regulated to ensure that people are not been scammed.
How about looking at it this way:
The USDT is backed up by the United States dollar, and it happens to not have a CEO that's entirely controlling it; although it's completely centralized, there are still limits to which it can be controlled.
The USDT doesn't undergo some form of sale, either crowd funding, an IEO, an ICO, Private sales, or any other form that can be used to raise funds and acquire the USDT as a project token.
The USDT price and value are not being controlled and manipulated by any central body, which might in turn benefit hugely when the price goes up or down.
The SEC is not after stablecoins, according to what they call them, but the said stablecoins are really not stable all the time as they always drop in value, sometimes up to a cent.
The USDT is backed up by the United States dollar, and it happens to not have a CEO that's entirely controlling it; although it's completely centralized, there are still limits to which it can be controlled.
The USDT doesn't undergo some form of sale, either crowd funding, an IEO, an ICO, Private sales, or any other form that can be used to raise funds and acquire the USDT as a project token.
The USDT price and value are not being controlled and manipulated by any central body, which might in turn benefit hugely when the price goes up or down.
The SEC is not after stablecoins, according to what they call them, but the said stablecoins are really not stable all the time as they always drop in value, sometimes up to a cent.
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?
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