> We're currently adding stablecoin functionality to the Stripe dashboard, and the first user is an Argentinian bike importer that finds transacting with their suppliers to be challenging.

Using crypto to dodge currency controls?

Of course I agree that currency controls are bad. But, if the use case for crypto keeps being fostering illegal transactions then it doesn’t solve anything a functioning economy needs.

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torginus 5 days ago | parent | next [-]

Omg, imagine if you were a foreign country and an US state-backed company decided you're collecting too much taxes, and helped your citizens evade that (for a fee of course)

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logicchains 6 days ago | parent | prev | next [-]

>But, if the use case for crypto keeps being fostering illegal transactions then it doesn’t solve anything a functioning economy needs.

In many countries what the economy needs to function well includes things that are illegal.

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ViewTrick1002 6 days ago | parent [-]

Which means it will only ever be a tiny niche market since the amounts are irrelevant when the service is needed.

Then as the country’s economy develops the need for these illegal services disappear, or quickly gets you in trouble.

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logicchains 6 days ago | parent [-]

>Then as the country’s economy develops the need for these illegal services disappear, or quickly gets you in trouble.

This is not necessarily the case given how large the online illegal drugs market is in pretty much every developed country. Just because weed was legalised, it doesn't mean all other narcotics will be legalised in future too.

	▲	ViewTrick1002 6 days ago \| parent [-]
		Which given the busts of Silkroad etc. and countries changing the laws allowing them to search mail making delivery more perilous, has again withdrawn to a physical hands on market. Or do you suggest to send some stable coins when meeting the local dealer?!?!

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tick_tock_tick 6 days ago | parent | prev [-]

Dude the USA runs the whole Euro Dollar system. The idea the USA really really "controls" it's own currency is a bit of a pipe-dream at this point. We might as well go for full global control.

	▲	ViewTrick1002 6 days ago \| parent [-]
		Ah. I think currency controls might have been a new term for you. Or I should have said ”capital controls” to be aligned with wiki. [1] Currency controls is what for example Argentine has been doing with set exchange rates and limits on conversion while mandating that all local businesses must be done in their currency. It is not about controlling the currency, it is about creating hinders for capital movements in and out of countries. [2]: https://en.wikipedia.org/wiki/Capital_control