Algorithmic and state-backed uncensored stablecoins may shape the next wave of crypto finance, says Ki Young Ju
CryptoQuant CEO Ki Young Ju has forecast the emergence of so-called “dark” stablecoins, a new category of digital assets that prioritize censorship resistance and operate outside traditional regulatory frameworks. His comments were shared via WuSay, a trusted crypto-focused news outlet.
What Are “Dark” Stablecoins?
According to Ki Young Ju, dark stablecoins could be defined as:
Algorithmic stablecoins with no government control or backing, and
Sovereign-issued stablecoins from jurisdictions that do not enforce financial censorship
These stablecoins would allow users to bypass regulatory surveillance, offering an alternative for those seeking privacy-preserving financial tools in an increasingly monitored global economy.
USDT and Tether’s Role in the Debate
Ki noted that USDT, issued by Tether, was once viewed as a censorship-resistant asset. However, the stablecoin's future classification could change based on its stance toward U.S. regulatory cooperation:
“If Tether refuses to comply with U.S. supervision under a second Trump administration, it might be labeled as a dark stablecoin,”
Ki said.
This highlights the growing tension between stablecoin issuers and regulators, especially as governments move to increase control over on-chain financial flows.