There has been a release of many stables coins recently. What are the differences from each? So far I know that Tether (usdt) is based out of the US banking system and everything else is in the US banking system and regulated. Also I read that the USDC and GUSD has a back door system to freeze and hold accounts if they wanted to. I wasn't sure if PAX had this same thing. What are all the listed pros/cons of each stable coin?
Indeed, USDC has a backdoor built in to allow for the freezing and/or seizure of funds if it is believed illicit activity is involved. In other words, any address can be blacklisted and funds frozen. Not very stable for a stable coin, right?