There is a new law for stablecoins, and these companies certainly have legal advisors who know what they're doing. The situation is completely different from what it was during the Libra/Diem project.
Generally, these companies were able to freeze tokens, and they did it across multiple blockchains. However, there has been no freeze on individual addresses, and this appears to be the next step.
Generally, these companies were able to freeze tokens, and they did it across multiple blockchains. However, there has been no freeze on individual addresses, and this appears to be the next step.
What do you mean by "no freeze on individual addresses"? AFAIK, stablecoin issuers such as Tether and Circle can freeze addresses on multiple blockchains via the smart contract's embedded "blacklist" feature. In other words, Tether and Circle can freeze a specific address across multiple blockchains if they want to. The only reason they're planning to make their own Blockchain networks is because they want full control over everything. A blockchain of their own would allow them to easily freeze, censor, or even confiscate funds at will. By doing such a move, they will officially become "digital banks". Perhaps, regulators in the US will allow this. But not in the EU or even BRICS. And with Tether having issues to launch its own EURO-backed stablecoin, you can imagine how EU regulators will respond.
Let banksters and "Wall Street" enjoy their centralized stablecoins. Traditional cryptocurrencies such as Bitcoin and Ethereum is where the freedom's at. Even if their prices remain unstable (volatile) in Fiat terms. If you're not into crypto for the money, this wouldn't matter. Just my two sats.
