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JP Morgan: U.S. regulators do have some control over stablecoin Tether

JP Morgan: U.S. regulators do have some control over stablecoin Tether

CointimeCointime2024/02/19 07:48
By:Cointime

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.

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