This is so scary...
I don't know why but I feel the only good part of this is it doesn't really affect the hive blockchain.
I don't know about how USDT works but this could potentially harm most stable coin.
In Nigeria, most people who are crypto aware don't like using banks. With this information, I hope most stable coins don't lose their stability because this looks like the consequence in my head.
Anyways, lets hope they don't pull through.
As long as the crypto is asset backed, they feel it is okay. So USDC and Tether should be okay as long as they truly have their tokens backed by cash or cash equivalents.
Circle already filled for a banking license which is likely going to be the norm, at least in the US.
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