I think there is definitely a need for algorithmic stable coins to avoid the current financial system. Just take a look at all the news about Tether and other stable coin providers being hit by the regulators makes me wonder when a court ruling might go against them. At the same time, I have seen those stable coins block addresses so it's not as free as people might think.
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I am not even sure a court ruling is required. My bet is the USG makes them come under the banking laws. That would require the likes of Circle to be in compliance.
And that means additional costs. I do not know their business model so I have no idea how they make money. Yet it is the drawback to regulation: the money required to be in compliance.
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