Governments will never accept something they cannot fully control. Whether its CBDCs or stablecoins, control is the name of the game. The idea that governments would just adopt existing stablecoins and give up their role in monetary policy is naive. Why would they give that power to private corporations like Tether or Circle? They wont.
Government can control it if they want lol. Too easy for them. That's why most of these corporations don't even bother to make establish themselves in the US. If they want, they can just use absurd laws and regulations to keep it under wraps and control. Are there no non-crypto private in the US?
Government can get what they want:
- Either they create it and get everyone to bend the kneel. Or
- They gather everyone who created it and get them to bend the knee.
