in place? Or a plan? Is there communication going on with mica? Or are we going to state pseudo religious platitudes and let it just happen?
What's your plan? As I said, it's decentralized project. So everybody is welcome to bring proposals and improvements. From my understanding, mica is targeting centralized exchanges and stablecoins issued by a centralized company. Both isn't valid for dUSD.
As a user of DeFiChain and maybe dUSD, what do you think would be the worst thing that could happen in terms of stablecoin regulation to you?
That their definition of a stable coin which they use for the regulation makes it so that the Defichain Community either has to implement radical changes or that they make it illigal to use in the EU. I am actually trying to provoke a discussion. Which it seems is not really working🤔😅
Not just exchanges. Any noncustodial wallets as well. I. E. The defichain wallets not on a centralised exchange.
Honestly, that is already enforced through the travel rule, any government that wants to know exctly the amount of non custodial wallets and their owners can do it if it wants. That does not change the fact that Defichain is decentralized and will always be, governments cannot do anything about that. What they can do, yes there is always something they can do, let's not be naive, is to control and try to shutdown the access points to the blockchain. Neverthless, altough it could criple the network, would not stop it, unless all the world would do it. Honestly, crypto or not, in the end of the day, there will always need to be exist some sort of commitment in order to maintain at least, the status quo. If not possible by enforcing on decentralized exchanges, enforcing through centralozed exchanges. Let's be honest, even if crypto one day will replace the fiat system, governments will not cease to exist, and they will want their share, so, in the end, we will all need to get along maybe. We all want peacefull coexistence, and crypto will not change that, let's hope it can power it at least in a better way than the flawed fiat system.
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