Sonic Labs suddenly dropped her plan to launch Stablecoin, backed by US dollar, which converted her focus to a backed alternative from Derm. The decision comes at a time when stablecoin regulations are tightened in the United States, and therefore, the company turns its focus to the United Arab Emirates Dirham.
Sonic LAPS sones U.
Just one week after the hint of the US dollar -based algorithms, Sonic Labs has now dropped the plan. Participant founder Andre Kronji confirmed this in a publication on X, citing organizational concerns.
Instead, the company is working on a mathematically associated numerical dirham that will be settled and materials in US dollars. However, Cronje insists that “this is certainly not an algorithm depends on the US dollar.”
The timing of this step is in line with the plans of the United Arab Emirates to launch a Blockchain digital dirham in late 2025. Khaled Mohamed Palama, ruler of the UAE Central Bank, believes that this initiative will enhance financial stability and restrict financial crime. Digital Dirham will work alongside actual criticism, which expands its use in payment channels.
The algorithm Stablecoins is still facing scrutiny
Sonic’s reflection follows the suspicions surrounding the algorithms, especially after the bad Terra collapsed in 2022. The collapse of $ 40 billion of Ost Staplecoin has led to billions in investor funds, which led to global concerns about such assets.
Crohnji He expressed himself with his doubts About Stablecoins algorithm in the past, citing personal stress from their dangers. He once said: “Our team is sure to break the Algo Stablecoins today, but the previous sessions gave me post -traumatic disorder.”
The European Union has already banned the algorithm by MICA regulations to prevent another Terra. The United States is also moving in this direction.
Stablecoin regulations are waving in the United States
The United States government is actively working on Stablecoin regulations Through the genius action and stable work. Both bills stipulate the 1: 1 reserve ratio and avoid algorithm.
The authorities aim to finish the touches on the regulations within two months, with the main exporters such as Tether, Circle and Ripple Plughs themselves to play a central role.
Therefore, Sonic Labs chooses to adapt instead of facing unconfirmed organizational challenges in the United States.
