you still have to fund your stablecoin account somehow - how do I get local currency from my pocket into the ether?
(Plus a whole bunch of pretty words to make it sound like they're saving the world.)
User A sends local currency to User B's fiat account.
User B sends stablecoins (earned via salary, trading, mining, etc.) to User A's digital wallet (that we've created for them).
Definitely a few places that we'd probably avoid. But also plenty of others (e.g., Kenya, LatAm, Turkey, etc.) that have been quite friendly and would be fine to visit.
Do you check the laws for this in each country you are available in?
Do you notify user B of this fact and the potential legal risks?
Do you verify if they have the license?
It's MUCH more complicated than that in several countries, particularly the US.
Because if you are involved in washing illegally earned money in many places that's a criminal act.
What, other than money laundering, would motivate a person who had a supply of such stablecoins to want to supply them to into a market with currency controls? Is the concept there “I make my expat wages in dollars, I want to turn them back into $CURRENCY at the black market rate”?