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102 sats \ 6 replies \ @BlokchainB 3h \ parent \ on: Tether Launches USA₮, the Federally Regulated, Dollar-Backed, Made in America news Stacker_Stocks

Over the long term but short term I can see people using this especially if it is open 24/7. Ach network sucks and banks close which is dumb.

But now circle has a major competitor in tether

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47 sats \ 5 replies \ @Scoresby 3h

It will be interesting to see the default way people on board. Are they going to mostly be buying USAT on exchanges? If so, this turns exchanges into banks even more than it turns Tether into a bank. Also, I'm curious to see if we start seeing stables widely accepted as a payment method.

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92 sats \ 1 reply \ @Coinsreporter OP 2h
USA₮ is not legal tender (as described in section 5103 of title 31, United States Code) and is not issued, backed, approved, or guaranteed by the U.S. government. USA₮ is not subject to the insurance protections of the Federal Deposit Insurance Corporation (FDIC), the Securities Investor Protection Corporation (SIPC), or any other government agency.

I don't know why they are cautious when they are federally regulated!

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21 sats \ 0 replies \ @BlokchainB 2h

Protects them from lawsuits. If someone can sue they will sue

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86 sats \ 2 replies \ @Coinsreporter OP 3h

I can see many exchanges have already celebrating it by listing instantly

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21 sats \ 1 reply \ @BlokchainB 2h

Is it an ERC-20 token?

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0 sats \ 0 replies \ @Coinsreporter OP 2h

Yes.

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