Solana co-founder Toly: If a stablecoin freeze doesn't require court authorization, it's not a true US dollar.

According to ME News, on April 13th (UTC+8), Solana co-founder Toly responded to Chain Detective ZachXBT's discussion regarding the USDC freeze controversy, questioning whether a stablecoin can be considered a true US dollar if the power to freeze it does not require authorization from a US federal court. He suggested a tiered architecture for stablecoins: a base layer of stablecoins that can only be frozen under court orders; and protocols (such as Drift and Kamino) issuing packaged stablecoins on top of this with their own freeze and unfreeze strategies, and equipped with dedicated security teams to handle hacking incidents. (Source: ME)