More importantly, not only are those regulations not in effect, the final regulations haven't even been written or approved yet - which brings up certain questions about how a stablecoin could be compliant with them.
And of course, even if a US-based stablecoin is well regulated, it still doesn't make these foreign "savings" account companies offering guaranteed high rates of return is a safe place to park your money.
Everything about it feels scammy. The claim of compliance against non-existent regulations, too good to be true guaranteed high rates of return, companies set up in questionable jurisdictions and the emotional appeals of not being a sucker and fear of missing out? All that's missing is a suggestion that there's a limited time left to act.
alt Hacker News
It mentions it once.
More importantly, not only are those regulations not in effect, the final regulations haven't even been written or approved yet - which brings up certain questions about how a stablecoin could be compliant with them.
And of course, even if a US-based stablecoin is well regulated, it still doesn't make these foreign "savings" account companies offering guaranteed high rates of return is a safe place to park your money.
Everything about it feels scammy. The claim of compliance against non-existent regulations, too good to be true guaranteed high rates of return, companies set up in questionable jurisdictions and the emotional appeals of not being a sucker and fear of missing out? All that's missing is a suggestion that there's a limited time left to act.