Sat. Sep 18th, 2021

    Diem remains a concern for the U.S. government

    Last week, David Marcus, head of blockchain development at Facebook, visited Washington and met with regulators. The purpose of his trip was to inform regulators about the value of Diem stablecoin, but there was little enthusiasm for the project.
    The US government is concerned that stablecoin could threaten the entire global economy. Although Diem positions itself as an independent association, its association with Facebook increases this risk because the social giant has more leeway to distribute its products to billions of people around the world. Regulators are also not satisfied with the fact that Diem will be pegged to the U.S. dollar.