Decentralization detour: Regulated stablecoins hit unregulated exchanges
Quick Take
- Three regulated stablecoins hit exchanges in the past month
- Regulated stablecoins are not censorship resistant because they can be frozen, seized, forfeited, or destroyed if illegal activities are suspected
- Implementing regulated stablecoins allows exchanges to offload the legal and compliance responsibilities of fiat on ramps
Three firms, which arguably played a critical role in popularizing bitcoin and other cryptocurrencies for the masses are now launching regulated stablecoins. But unlike bitcoin, whose most important value proposition is arguably censorship resistance, regulated stablecoins released by Circle, Gemini and Paxos are actually quite the opposite. If a user fails to pass know-your-customer requirements […]
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