JUST

In a recent report, JPMorgan analysts led by Nikolaos Panigirtzoglou expressed concerns about the growing dominance of Tether in the stablecoin market.
The report underlined Tether's lack of regulatory compliance and transparency and stated that its increasing concentration was seen as a negative for the stablecoin universe and the overall crypto ecosystem.
Companies operating stablecoins face regulatory risks globally. In the US, the Clarity for Payment Stablecoins Act is awaiting approval from Congress. Meanwhile, Europe expects partial implementation of CryptoAsset Markets (MiCA) regulation in June this year. Analysts believe that stablecoin companies that strictly adhere to existing regulations can benefit from the upcoming regulatory scrutiny and potentially gain market share.
Tether CEO Paolo Ardoino responded to JPMorgan's report, saying he was pleased that JPMorgan had recognized the importance of Tether and the stablecoin technology created by his company. But he found it hypocritical for JPMorgan, the world's largest bank, to talk about centralization.
Related News: <a href="https://en.bitcoinsistemi.com/just-in-coinbase-adds-a-new-altcoin-to-its-roadmap-to-list-2/" target="_blank" rel="noopener noreferrer nofollow">JUST IN: Coinbase Adds a New Altcoin to Its Roadmap to List</a>
Ardoino attributed the success of Tether's USDT to its financial reliability, strong reserves, and commitment to emerging markets and developing countries.
Another stablecoin company, Circle, recently secretly filed for public listing in the US.
JPMorgan analysts interpret this move as Circle's intention to expand internationally and prepare for upcoming stablecoin regulations.
According to analysts, stablecoins function like the “cash” in crypto, acting as a link between traditional finance and the crypto world. According to analysts, their expansion means more money entering crypto from traditional finance, more cash circulation in the crypto space and an increase in collateral, making the cryptocurrency financial system more stable.
However, analysts also pointed out the negativities caused by Tether's increasing market share and regulatory uncertainties.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/analysts-at-jpmorgan-worlds-largest-bank-publish-special-report-on-tether-usdt/" rel="noopener noreferrer nofollow">Analysts at JPMorgan, World’s Largest Bank, Publish Special Report on Tether (USDT)</a>

Analysts at JPMorgan, World’s Largest Bank, Publish Special Report on Tether (USDT)

Bitcoin Sistemi EN

Other articles published on Feb 2, 2024

How Shiba Inu’s TREAT is fueling trouble for its community

Great Whales Became Active in the Last Hours: Here Are The Altcoin Trades Made By 5 Whales

Gate.io and D3 Partner to Apply for and Obtain ‘.Gate’ Top-Level Domain

Chainlink (LINK) Gains Traction Amid Real-World Asset Interest

Planetarium Labs Announces Pilot Version of Prelude to Guild War That Kicks off With Arena Season...

Pixelmon’s Remarkable Turnaround Attracts $8 Million Investment

Join our free newsletter for daily crypto updates!