In the US if a police finds cash on you they can steal it via Civil Asset Forfiture. Some police departments near airports rely on this income for funding.
If the US Feds label you a terrorist, without trial they can either freeze or steal the money you have in US owned or US friendly banks.
If Visa and MasterCard don't like something they might prevent you from making a purchase with your debit card. Such as X-rated games and movies.
The promise of stable coins is meant as a work around to these kinds of issues. In reality you have to trust the stable coin issuer more then the US Feds.
In the US if a police finds cash on you they can steal it via Civil Asset Forfiture. Some police departments near airports rely on this income for funding.
If the US Feds label you a terrorist, without trial they can either freeze or steal the money you have in US owned or US friendly banks.
If Visa and MasterCard don't like something they might prevent you from making a purchase with your debit card. Such as X-rated games and movies.
The promise of stable coins is meant as a work around to these kinds of issues. In reality you have to trust the stable coin issuer more then the US Feds.