Or is that the laws? I get them mixed up. Peek behind the hood of the leading stablecoins—cryptocurrencies pegged to the price of another asset, most commonly the U.S. dollar—and things don’t look so stable at all. Take Tether: an opaque governance structure, a New York Attorney General lawsuit and undisclosed commercial paper holdings might give investors pause. Decentralized stablecoins try to avoid these governance issues by maintaining their pegs through algorithms instead of through vast reserves of cash and debt. . . ."
https://decrypt.co/resources/what-is-terra-algorithmic-stablecoin-protocol-explained
