Imho not exactly regarding the USDT scandal many years ago. It was not audited because there were not enough proof about every single USD "covered" by USDT. At the end they found the appropiate amount of USD in a bank in the Kayman Island.
The main problem with stablecoun that they are issued by a centralized corp/xchange. In case of USDT the Bitfinance, or BUSD it is the Binance. And Binance is not so sympathic to the US authorities, so they want to "overregulate" the Binance in the US.
Crucial
npub1wc…et4d9
2023-11-19 09:14:28
in reply to nevent1q…px87
Author Public Key
npub1wcadenzpncpmjqn29wlvx6c3r4nuh0j5m0a3ka4x6vlsyu3xvwcstet4d9Published at
2023-11-19 09:14:28Event JSON
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"content": "Imho not exactly regarding the USDT scandal many years ago. It was not audited because there were not enough proof about every single USD \"covered\" by USDT. At the end they found the appropiate amount of USD in a bank in the Kayman Island.\nThe main problem with stablecoun that they are issued by a centralized corp/xchange. In case of USDT the Bitfinance, or BUSD it is the Binance. And Binance is not so sympathic to the US authorities, so they want to \"overregulate\" the Binance in the US.",
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