English
Arabic
French
Spanish
Portuguese
Deutsch
Turkish
Dutch
Italiano
Russian
Romaian
Portuguese (Brazil)
Greek
This could very well happen. Now the Chinese government is developing legal documents for the circulation of its digitized yuan. It is envisaged that the digital yuan will be declared property of China, and it will also be prohibited to use the digital yuan as collateral for other stablecoins not owned by the Chinese government. Other states have the right to demand this as well. If this happens, private stablecoins will be outlawed.
Forums
Cryptocurrency Forums - Join the Bitcoin Chat and Forum - Live Bitcoin Discussion about cryptocurrency trends and Chat Platforms.
CBDCs Will Replace Private Stablecoin Tether, Central Bankers Say
Speaking at the annual ECB Forum on central banking, heads of the three central banks said that they are actively exploring the idea of a CBDC. Some predict it will end private stablecoins, like Tether’s USDT.
Andrew Bailey, the governor of Bank of England, said that a CBDC would replace private stablecoins like Tether, Libra, and others as people would be more confident in storing and spending CBDCs.
