I also wonder when these stablecoins will be banned en masse in other countries, since they finance the US economy.
I don't think they will be banned on a large scale, but even in countries where this happens, it will be like trying to close the barn door after the horse has bolted.
It will be difficult to do, I agree. But there will still be attempts.
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https://news.bloombergtax.com/financial-accounting/crypto-friendly-sec-offers-stopgap-stablecoin-accounting-clarity"The US Securities and Exchange Commission has allowed companies to account for fully backed stablecoins (e.g. USDC, USDP) as cash or cash equivalents.
What this means:
- Stablecoins can now be reflected on the balance sheet as "cash".
- This only applies to dollar tokens with a guaranteed right to redeem.
- The asset must be fully backed and have no volatility."
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