Stablecoins: A Mirror Image of Central Bank Digital Currencies?

A leading voice in the blockchain world, Sentinel Global founder Kranz, warns that stablecoins could be more akin to private versions of Central Bank Digital Currencies (CBDCs) than safe havens. He emphasizes that trust in large financial institutions to issue digital dollars carries risks mirroring those associated with government-backed CBDCs, particularly when considering how companies like banks have significant control over user funds through features like transaction restrictions or access limitations. He argues this is akin to the Patriot Act granting broad power to both corporations and authorities regarding access to funds.