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03 July 2020

J.P Koning: Stablecoins Have a Fraud Issue They're Not Addressing - CoinDesk

J.P Koning: Stablecoins Have a Fraud Issue They're Not Addressing - CoinDesk


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J.P Koning: Stablecoins Have a Fraud Issue They're Not Addressing.

If that doesn’t convince you, it pays homage to Sergei Mavrodi, once the world’s most notorious Ponzi scheme operator.

But whereas MMM BSC is a shady operator, Paxos is a clean-cut financial institution.

A cynic would say that all financial institutions surreptitiously welcome a bit of fraud.

On the other hand, if Paxos freezes a Ponzi scheme’s wallet, to whom would it return the seized PAX tokens.

With so many innocent low-income households having tied their hopes and dreams to a Ponzi masquerading as a legitimate opportunity, Paxos will have to tread gingerly.

Any business can set up a Paxos wallet and accept and send PAX stablecoin tokens, no name or identity required?

According to cryptocurrency researcher Eric Wall, only 16 freezes have ever been implemented by the major stablecoins, all by Tether. 

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Litecoin (LTC) Price Analysis: Facing Key Hurdles Near $45
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