pull down to refresh

47 sats \ 5 replies \ @Scoresby 3h \ parent \ on: Tether Launches USA₮, the Federally Regulated, Dollar-Backed, Made in America news Stacker_Stocks

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.

write
preview
some territories are moderated
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!

reply
21 sats \ 0 replies \ @BlokchainB 2h

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

reply
86 sats \ 2 replies \ @Coinsreporter OP 3h

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

reply
21 sats \ 1 reply \ @BlokchainB 2h

Is it an ERC-20 token?

reply
0 sats \ 0 replies \ @Coinsreporter OP 2h

Yes.

reply