I must have touched on a nerve.
Conversation
To be fair, your statement about tether allowing traders and exchanges to sidestep the BSA is incorrect. Also, I’m not aware of any fiat-reserve coins that do not KYC at the official points of entry and redemption.
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then why would anyone wants a proxy of USD which is equally regulated as the original USD, why not just use USD instead. don't tell me the legacy system is old and slow, it is old and slow precisely because of regulation
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Because real USD doesn’t move around the world 24/7/365, cannot be used in smart contracts, and some people who would like to hold real USD are shut out by the banking system or underserved in their geo. I’m sure there’d be demand for an official crypto dollar too.
"real USD doesn’t move around the world 24/7/365," that's incorrect, you can use paypal or credit card, the reason you can't use it for crypto is because what? REGULATION
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