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Did you know that in the US you cannot have

a corporation use the word "bank" in its name without a banking license? I wonder if there's some kind of similar rule if someone just used $USD.

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Since it’s decentralized, what can “they” truly do if Frax uses $USD ?

Sam-Kazemian ¤⛓️¤ Автор вопроса
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Since it’s decentralized, what can “they” truly do...

If it's fully decentralized onchain then probably nothing but my point is that if it has partial RWA backing or fiat in a federal reserve master account then they can do a lot.

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