b]Unbacked stablecoins should be illegal
[/b]
Unbacked stablecoins should be illegal. Because why should it be allowed to provide such a crap and have no insurance?
Every distributir of stablecoins should prove a backing of such stablecoins.
I fit is a 1-Dollar stablecoin, it needs tob e backed by 1 dollar.
If it‘ not backed, it should not be allowed tob e traded because it is huge risk for boyers in case it is getting hacked or collapsing.
For our coins to be safe, we need to avoid unbacked stable coins because of risk.
Your concern regarding unbacked(not backed by real Dollars, Euros or any other prominent fiat currency) stable-coins is indeed valid, and it has been subject of debated among regulatory authorities, as they lack fundamental guarantee that their value in the ratio of 1:1 will be maintained.
This can pose risk for users and the broader financial system if they were to fall or collapse.
It is the3 responsibility of regulatory authorities in every country to tale appropriate actions to safeguard public interest effectively.