FOMCs Lael Brainard speaking to WSJ
  • I see potential for a digital dollar as being complementary to a more efficient system that would include stablecoins
  • Fragmentation of the payments system is costly

Either the US will eventually launch its own stablecoin and regulate Tether out of existence or it will regulate Tether so strongly that it's virtually the same. Ultimately, the US government will want control of payments and technology.

Given the UST debacle, the window is open to a crackdown.