Cryptocurrency: UK Treasury to regulate some stablecoins

well-known ones include Tether and Binance USD.

Stablecoins are mostly operating on Ether chain, but cheap transfers are possible with Binance and Tron chains. Anything else?

Opened my crypto wallet app and got a message that Tether on Solana chain was added, and transfers are really cheap!

So at least following coins are used as gas for stablecoin transfers:


All large caps, so no surprises.

Just wondering: what does the chain itself has to do with stablecoin regulation? Yes, you can pay gas fees in the coins you mentioned, but I think that’s not the idea of the shared article.

USDT clearly has issues and is most probably not backed at all by the actual amount in USD. USDC might be the better choice as of right now. Imagine USDT blowing up - that would be a pretty big nightmare for a lot of people being invested in crypto space.

Regulation means adoption, so more transfers, more gas paid.

I am net short on USDT :rofl:

Seriously, why invest in stablecoins? For high interest rates?

I’m also not “investing” in stablecoins. It’s just that a lot of currency pairs on CEXs are traded with USDT (I’d say 80%+). Imagine USDT blowing up, while you have some USDT sitting in your CEX waiting to buy some “standard” crypto coins.

Speaking of: I should check how much exposure I have to USDT. Definitely I still have some USDT sitting around.

Or BTC. Or just USD. Anyway it’s a technical detail as long as you don’t transfer USDT out.