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Stablecoins Taking Over FOREX

The Daily Leo #661

kwick

Apr 4

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Stablecoins Taking Over FOREX

The demand for stablecoins is growing, and in the last few years, it has grown exponentially. Because of the rise in demand, we have seen some new stablecoins as well in the market, and probably the list will grow even more. It is also expected that stablecoins are going to be a norm, and because of that, KYC is coming into the picture. It can also take over forex, the way it is growing, and we know that USDT is a leader in the stablecoin market. This growth can also disryupt the FOREX as crypto stablecoins offer much more than a forex

With the growing demand for stablecoins in the crypto market, regulation is highly anticipated in many countries. We will see it happnig in many countries in the coming month and years and as of now its started in US. The US House Committee has passed an ACT for the regulation of stablecoin. This act has been passed to have transparency and accountability for a better economy of stablecoins. Stablecoins are backed by fiat currency, and the USD is more popular. For example, we have USDT and USDC, and both are leading stablecoins backed by the US dollar

Crypto is a growing segment, and likewise, hackers are also trying to adopt new and innovative methods to loot money. Now, hackers are exploiting counterfeit Android smartphones by preloading them with crypto-stealing malware. The phones are loaded with Trojans, and the phones are sold at cheap prices. They steal user account information through this, and we need to be careful

The tariff war was started by Donald Trump, the president of the United States. This has become global news as the world is going to suffer because of this and stock markets are highly impacted. Investors are taking off their money as they no longer believe the American president. People trade on the stock market in the US, and its also the backbone of the US economy. However, because of the tariff, things can go badly and might impact the US in a bad way. Its too early to say if the US is on its way to becoming a developing country; however, its highly anticipated that the country has to deal with many economic challenges.

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