All stablecoin issuers are now staking treasuries and they can share part of their profits with users
If Tether starts requiring KYC for every wallet, they will lose a huge part of their customers.
I also wonder when these stablecoins will be banned en masse in other countries, since they finance the US economy.
I think that’s how it goes, but any stablecoin will eventually have to be regulated. The US is a huge market for crypto, probably the biggest, so I don’t think people will stop using USDT in favor of another stablecoin. Eventually, if that new coin gets popular and wants to capture the US market, it will still have to comply with regulations.
Either they use Bitcoin, which we know is volatile, or they use USDT but follow the basic requirements. Issuers won’t have a problem with that since they’ll profit either way.
So let’s just see how this plays out.