So for every Tether in circulation, there would be a dollar stored somewhere. This coin is now worth more than $70 billion. And after great international Whatsapp Number List pressure, it turned out that the company behind Tether had a very strange mix of assets to cover all this money on its balance sheet. As a result, the company had to pay a fine to the American government and the same government has now urgently developed a framework to severely restrict stablecoins, such as Tether.
Trade exchanges such as Bitcoinmeester have already taken the coin offline . It's not just about Tether, though. There are dozens of stablecoins in Whatsapp Number List circulation and the big wait is still for the stablecoin that shook up many governments: Diem, initiated by Facebook. In addition to the fact that European , Chinese and American governments have expressed their great concerns, they have now rapidly developed legislation that will come into effect next year. President Biden has already indicated that they are in the same category as banks.
The head of the US central bank, Jerome Powell , has already indicated that he does not want to ban them, but that they are strictly regulated. It is important to filter the cowboys out of the industry and actually gain broad acceptance by larger Whatsapp Number List institutions. In a recent Deloitte survey, 83% of executives said they see current fiat money being replaced by such coins. 4. Governments are working overtime Normally, governments always lag behind technological developments, the so-called pacing problem .