LiberLion on Nostr: I've been saying it for over two years now: Dollar-backed stablecoins are the US CBDC ...

I've been saying it for over two years now: Dollar-backed stablecoins are the US CBDC
https://x.com/liberlion17/status/1692104916767011163

The plan consists of rescuing the dollar from its immense issuance to tokenize it with private issuers and banks, as a preliminary step to its transformation into a privately issued CBDC: the eDollar, with a conversion rate of (for example) 1000:1.

Facts:

The four main stablecoin issuers (Tether –USDT–, Circle –USDC–, First Digital –FDUSD–, and Paxos –PYUSD–), and now collectively hold around $182.4 billion in 🇺🇸 US Treasury securities, and growing, more than 🇸🇦 Saudi Arabia, 🇰🇷 South Korea, 🇩🇪 Germany, and 🇦🇪 UAE. That figure would place them, if they were a country, in 17th place in the international ranking of US debt holders.

With the GENIUS Act, the U.S. regulates issuers, mandates Treasury backing, and turns the tokenized dollar into a geopolitical weapon.

The GENIUS Act requires foreign issuers that want to operate on a large scale to submit to US oversight. This means that the country not only controls its currency, but also extends its regulatory influence over global financial players disguised as crypto.

From crypto rebel → backbone of the dollar empire.

#Stablecoins #GENIUSAct #USTreasuries