Will governments destroy stablecoins in the long term?

[hari9981]

I dont get it the reason why governments do that thing, isnt stable coins help government to move the macro economy on the good way?
I predict they wont destroy it, they will rules it and make some tax from it, its sound more rational for me.

[ILuckyGuyI]

Maybe they would like to do such thing after they launch their own digital currencies. Because then, they will most probably see these stable coins as a threat to their digital currency. But I still don't think it would be a logical action.

[cabron]

I think that stablecoins like USDT seem to be very difficult to destroy and of course it seems impossible for the government to do that, so I think the stable coin will still be circulating and its free circulation can be used to manipulate the price of bitcoin and make the price go up or down.

There had been issues with it before but they are fixing it. Although it may not really erase the fact that there had been issues like the accounting of its real reserve which there has to be real USD accounting but there were articles circulating about it that they have settled.

Stablecoin I think will still not be destroyed. Paypal rumor was that they are about to release Paypalcoin which is basically just like a stablecoin.

[Koutami]

I think that stablecoins like USDT seem to be very difficult to destroy and of course it seems impossible for the government to do that, so I think the stable coin will still be circulating and its free circulation can be used to manipulate the price of bitcoin and make the price go up or down.

Its possible if there's crime related on the USDT (kinda Money laundery), its like LibertyReserve who got destroyed by US Governments before.

[TheUltraElite]

I dont get it the reason why governments do that thing, isnt stable coins help government to move the macro economy on the good way?
I predict they wont destroy it, they will rules it and make some tax from it, its sound more rational for me.

They are doing that already. No democratic government wants to ban everything. They are possible sources to get paid from and that is taxation. So even someone here might be thinking like a radicalist, the people who run the government are thinking way better things.

I think that stablecoins like USDT seem to be very difficult to destroy and of course it seems impossible for the government to do that, so I think the stable coin will still be circulating and its free circulation can be used to manipulate the price of bitcoin and make the price go up or down.

Truly, you cannot destroy a currency as long as people use it and like I have said in this thread previously, only a radical government would do such a thing. Regulation is what they can and probably will do - which is a good thing. We need to keep a stop on the money laundering and that would improve the public picture of crypto a lot. That can improve the global acceptance and price in general in future.

In that sense governments would not need to create their own coins but only regulate the ones already here.

[Ekyfitri]

in fact, it is not necessary. the most important thing I think is the processing of stable assets in the crypto market with an effort to increase the adoption of transactions in their country's fiat currency with crypto on exchanges that are legal in that country.
The government has only highlighted the negative impact of stable crypto assets which might make it weak for the country's fiat currency. they don't think about how to increase the value of their fiat currency for adoption in the crypto market.

[laohe628]

I dont get it the reason why governments do that thing, isnt stable coins help government to move the macro economy on the good way?
I predict they wont destroy it, they will rules it and make some tax from it, its sound more rational for me.

I think collecting taxes is win-win outcome, on the one hand, stable coins can continue to serve the crypto market. On the other hand, Governments will increase their fiscal revenue.
So my opinion is same to you, governments will not destroy stablecoins in the long term. I can't imagine what governments will make such a stupid decision?

[BOAEDAN]

I think stable coins may not be destroyed by the government in the future because stable coins are very useful for price manipulation so I think stable coins like USDT will remain in use in the future and will not be destroyed.

[kizlod]

I'd say no. They should accept and support it to stay in step with progress. It should be good both for them and for us.

[S3300]

Why worry when we have decentralized stable coins as well? If government is going to trample on stable coins it will only going to be the likes of USDT and USDC but DAI, remember why no one can fuck Bitcoin? This is where  decentralized projects have the upper hand

[Expecto]

In my opinion, governments can see stablecoins as a threat to their digital currency which they will develop in the future. Because they will have really big similarities. So they can think like stablecoins can damage their currency.

[hari9981]

I dont get it the reason why governments do that thing, isnt stable coins help government to move the macro economy on the good way?
I predict they wont destroy it, they will rules it and make some tax from it, its sound more rational for me.

I think collecting taxes is win-win outcome, on the one hand, stable coins can continue to serve the crypto market. On the other hand, Governments will increase their fiscal revenue.
So my opinion is same to you, governments will not destroy stablecoins in the long term. I can't imagine what governments will make such a stupid decision?

Yep, its a win-win outcome and not hurting everyone except to the people who try to avoid tax.
Also, if government can make a good technology to provide stable coins as payment processor on the country ofc it could make better to the economy.

[magneto]

100%.

Stablecoins are sort of stuck in no mans land in my opinion. As a form of fiat currency, it doesn't offer any interest, nor does it provide the deposit guarantees that regular savings accounts do.

As a form of crypto, it's completely decentralised and won't really be congruent with the whole DeFi movement. It's clear that right now, stablecoins are allowing a loophole that the government will crack down on increasingly in the future, and animosity from within the crypto community will only continue to grow as well.