Why does the government want to colonize the blockchain so bad when the whole principle of it being decentralized goes against the very fiber of what a government is? They should just take the L on this one and let the market be.
https://dailycryptobriefs.com/news/wyoming-frnt-first-state-issued-stablecoin/
Posted by Cratos007
3 Comments
tldr; Wyoming has launched the Frontier Stable Token (FRNT), the first US state-issued stablecoin, now available on Kraken. Overseen by the Wyoming Stable Token Commission, FRNT is a dollar-backed stablecoin with a 2% overcollateralization target. It operates through licensed intermediaries and includes mechanisms for freezing or seizing tokens under legal directives. Unlike private stablecoins like USDC or USDT, FRNT is issued by a public entity, integrating state governance into its design. The token is available on multiple blockchain networks, including Solana and Ethereum.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Makes sense to me. Governments want/need some control over the market.
Because for obvious reasons governments went to control the finance/currency of their nation. There’s arguments for and against but largely it works to an extent.
Bitcoin and such won’t replace normal currency in places like the US or UK. It’s tricky to get and use , fees, and cash/cards work simply for the average person. You can’t have these as a currency when overnight it can drop 20-30% and such.
A digital currency is probably the inevitable but it’s really not gonna be that much different to the current setup I imagine. As we see physical money due fall in western countries especially – basically most payments are digitised to begin with