JP Morgan: U.S. regulators do have some control over stablecoin Tether
According to CoinDesk, although Tether is not based in the United States, US regulatory agencies have some control over its overseas use through the Office of Foreign Assets Control (OFAC).A report from JPMorgan Chase Co. points out that due to the dependence on the US market and upcoming regulations, Tether's dominant position as the largest stablecoin is facing challenges.Future stablecoin regulations may indirectly pressure Tether, making it less attractive compared to stablecoins that are more transparent and comply with new regulatory KYC/AML standards.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitget Trading Club Championship (Phase 21)—Up to 1250 BGB per user, plus a ZETA pool and Mystery Boxes
Bitget Spot Margin Announcement on Suspension of MDT/USDT, RAD/USDT, FIS/USDT, CHESS/USDT, RDNT/USDT Margin Trading Services
STABLEUSDT now launched for futures trading and trading bots
Martingale bot upgraded–simpler setup, more flexible features
