Re:The trillion-dollar lawsuit against Tether
by macspoofing on Monday November 04, 2019 @03:22PM
(#21446053)
>There would be nothing wrong with backing a token to a currency.
I don't know about that. Isn't the entire point of stablecoin to skirt existing regulations? Moving fiat currency isn't hard in and of itself. There is no technical challenge in Paypal sending $100,000 to my friend in Iran.
What makes it hard are the regulations combating money laundering, criminal and terrorism funding and enforcement of sanctions.
I don't know about that. Isn't the entire point of stablecoin to skirt existing regulations? Moving fiat currency isn't hard in and of itself. There is no technical challenge in Paypal sending $100,000 to my friend in Iran.
What makes it hard are the regulations combating money laundering, criminal and terrorism funding and enforcement of sanctions.