alt Hacker NewsWhen people in a developing country cannot hold foreign currency it is a result of a deliberate decision by their government. That creates a number of issues. They may well be breaking the law holding stable coins. It means practical difficulties in buying stable coins (they need someone who will sell stablecoins in their currency).
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datadrivenangel • today at 3:38 PM
Right! It's not that stable coins are decentralized, it's that the centralized holder is not in your jurisdiction and so your jurisdiction can't deface their money!
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mekdoonggi • today at 2:05 PM
The fact that governments might not be able to stop people from using stablecoins affects the laws, though.
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> (they need someone who will sell stablecoins in their currency).
It's pretty hard to really lock people out of stable coins really. You really just need someone to sell you some type of cryptocurrency that can be eventually exchanged for stablecoins. You can even do "peer to peer" trades if the government really cracks down on holding crypto.
I agree with the sentiment of this article but atleast some parts of the world with poor currencies like Latam have seen some benefit from stbales.