Hi. In the end we’ll be fine. To me Stablecoins are a big farce, like ICO’s back in the day. They have allowed exchanges to manipulate the market.
I do feel that this will initially be a massive blow to Crypto in general. Gov’t wants to know and control everything. Too much KYC already, imo.
There are many on and off ramps into fiat currency without stablecoins. If this happens, eventually it will help legitimize the space and more money will go directly into Bitcoin and other good projects.
Central banks ban’s everything that helps common people.
I don’t trust central banks because they support the 1% rich people. Rich gets richer.
Thats why 99% of the people should support crypto and create our own financial world where everyone should be included. Cryptocurrencies will create the next wave of financial innovation.
Stable coins threaten the economy only because they offer users a safe haven for their funds outside the system. Naturally big banks are going to attack stable coins but they won’t be able to regulate them. Actually depending on how the legislation goes, its uncertain. What’s a fact is that the coins are decentralized. Trying to apply regulations to their trades would take a lot of time and legal proceedings to execute. We have a few years before the answer to this question is revealed.