Comment by lxgr
4 months ago
Presumably for the same reason the US let offshore banks get away with creating Eurodollars in the past: It's useful to maintain the status of the US dollar as the currency of global trade.
This utility has always been at odds with the (relatively recent in comparison to Eurodollars, as far as I understand) desire to and ability of the US government to use USD financial rails as a political tool via sanctions.
No comments yet
Contribute on Hacker News ↗