There is no particular benefit to this arrangement.
Not for users but for the control establishment, a great benefit will be gained.
But they hate stablecoins because stablecoins are an uncensorable and anomymous payment rail.
That is true, stablecoins represent a big threat since they can be used outside the CB's control yet offer the same benefit since they are pegged.
It is a fun race to watch, the old regulatory establishment trying to keep pace with the technological advancement.
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It sure is fun. The latest idea being requiring any crypto asset provider who offers their assets to register as a legal entity in a EU member state. So, if some EU resident wants to buy some token released by someone on Uniswap, that someone has to register as a crypto asset provider in some EU member state.
What an utterly laughable notion. Caveat emptor is a much better idea. If you don't have appetite for risk, then don't blindly invest in token X created by an unknown entity. It's much better for a culture of taking responsibility for your own choices to develop. Besides, suppose some EU organ tried to bring charges against an issuer of a token on some DEX on Ethereum. How could they possibly identify that person? But I suppose regulators might try and develop methods to do that, which in turn will result in further innovation to skirt regulation on part of the issuers. A game of cat and mouse.
At some point, it comes time to decentralize the entire Internet infrastructure including ISPs and name services.
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They have to do their best to stay relevant. If finance goes DeFi and people take responsibility for their own actions, then the regulators cant say they are doing things to "protect the public".
Of course, this is a fallacy; they are in place to protect the establishment and the existing players.
The EU is going batshit crazy with their desire to keep the failing actions of the ECB going. They are even worse than the US which is hard to be.
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ECB has been on a mission impossible from the start. I mean what problems could having Greece and Germany in the same monetary union possible cause. The whole charade smacks of German mercantilism. Germany wants to maintain a permanent trade surplus. Merkel's fourth Reich as they say.
True although I think the same could be said for most of the countries in the EU. Having the north and the south together is not the best of ideas. Hell even the Germans and the French arent too fond of each other.
The fact that the EU is not a leader in technology has caused it a host of issues. They cannot rival the US, China, or even Japan.
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