Cryptocurrency exchange Coinbase published a series of tweets with their arguments, in response to the situation around stabelcoins.
They began by saying that stabelcoins are digital currencies, pegged in value to a single asset. And a stable fixed exchange rate suggests that they cannot be used as an investment.
Coinbase also recalled that Stablecoins are already regulated in the US. Paxos is controlled by the NYDFS department as a trust company. USDC is registered as a stored value instrument.
The company is confident: if the rules are properly enforced, it will be the start of a real dialogue between regulators and the industry. The key is to do so "not through threats of litigation without explanation".
