Quote from: so98nn on December 06, 2020, 08:35:42 AM

Quote from: NotATether on December 04, 2020, 02:56:18 PM

All US bills need 2/3 Senate majority approval to pass, assuming the lawmakers even make their bill progress to that stage. I don't think it stands a chance at getting to the voting part though - stablecoin companies will lobby against this bill since it would give USD PAX/USDC and even Tether (at least for some time) headaches.

Exactly, but OP also made one good point here that this thing is always coming up whenever btc is touching the skies. Look at the current rate of up surge and how people gaining money by selling their bitcoins into stablecoin. This is bad for the whales who would want the price to go even further the current barrier of 20K. This time it would be historical event if we cross this barrier and to make it happen, people who had FOMO reactions and conversions into stable coin needs to get out of it and again buy the BTC.

It's like mutual global pump if this news spreads on serious note. This time everyone will have fear of USDT or few known stable coins getting illegality issues. Just imaging, everyone will start selling them for BTC.

That's a badass savage play indeed. Grin

That's the reason I am worrying but I also realize that the situation now is quite different to 2017 when at that time USDT is almost a dominate stable coin and almost people can only sell their BTC to USDT to take profit, and I remembered that the exchanges in that time hadn't have the service to exchange directly BTC to USD or the currency of their country as now.