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Strategies & Market Trends : Blockchain and Cryptocurrencies
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To: Rocket Red who wrote (26)2/20/2023 4:45:16 PM
From: nicewatch   of 29
 
For now I agree with the view that this seems mostly to be about going after Binance. Circle, the company behind USDC has Wall Street investors including Goldman Sachs, BlackRock and Fidelity and is based in Boston. If forced to register as a security, I don't think it would be much of an issue for USDC/Circle.

Tether is a bit trickier. It's based in the BVI with a parent company based in Hong Kong. The New York AG and the CFTC each went after Tether and it ended up paying modest fines to both. The biggest controversy with Tether has always been whether it was fully backed with dollars and equivalent liquid assets. They claim they are but have never had a proper audit.
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