If the US would just provide its own stable coin it would kill all other USD stable coins and there would be no more issues.
Who would want tether if you can get government backed USD stable coins?
Who would want tether if you can get government backed USD stable coins?
People who wanted to hold USD outside of the US's jurisdiction, for one. I suspect this is one reason that apparently “more legitimate” stablecoins haven't caused huge Tether outflows.