USDC

You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/tethers-expansion-and-regulatory-transparency-concerns-highlighted-by-jpmorgan/" data-wpel-link="internal">Tether’s Expansion and Regulatory Transparency Concerns Highlighted by JPMorgan</a> 
The issuer of the largest stablecoin, <a href="https://en.coin-turk.com/tether-increases-bitcoin-reserves-amid-market-uncertainty/" data-wpel-link="internal">Tether</a>, continues to expand in the market in addition to achieving record profits. In the last four months, Tether has added $13 billion to its market value and minted an additional $1 billion worth of USDT. However, in its latest report, JPMorgan expressed concerns that Tether’s rapid expansion and increasing market dominance could pose a significant risk to the cryptocurrency market. The report also highlighted Tether’s lack of regulatory transparency. 
<h2 style="text-align: justify" id="strong-jpmorgan-emphasizes-lack-of-compliance-and-transparency-in-tether-as-a-growing-risk-for-the-crypto-market-strong">JPMorgan Emphasizes Lack of Compliance and Transparency in Tether as a Growing Risk for the Crypto Market</h2> 
JPMorgan emphasized in the report that Tether’s lack of compliance and transparency is an increasing risk for the cryptocurrency market. It was noted that regulatory scrutiny of stablecoins is on the agenda in the US and Europe. 
<img loading="lazy" loading="lazy" decoding="async" class="aligncenter size-full wp-image-310257" src="https://coin-turk.com/wp-content/uploads/2024/02/JPMorgan-Altcoin.jpeg" alt="" width="1280" height="720"> 
While a stablecoin bill awaits a vote in the US House of Representatives, partial implementation of the European Union’s cryptocurrency regulation (MiCA) is expected to take place in June. According to JPMorgan, stablecoin issuers that are compliant with current regulations could gain market share by benefiting from the upcoming regulatory pressure. 
After paying a $41 million fine to the CFTC in 2021 for providing misleading information about its reserves, Tether took steps to increase transparency. However, JPMorgan’s report indicates that the leading stablecoin is still lagging behind in regulatory compliance compared to USDC. Both USDT and USDC are in the top ten cryptocurrency list, with USDT being four times larger than USDC. 
The report also drew attention to the fact that Tether’s net profit reached 10% of JPMorgan’s earnings. It is known that Tether increased its market value by 35% last year alone and is now moving towards its goal of reaching $100 billion in circulation. 
<h2 style="text-align: justify" id="strong-tether-ceo-paolo-ardoino-responds-to-jpmorgan-s-report-strong">Tether CEO Paolo Ardoino Responds to JPMorgan’s Report</h2> 
Tether CEO Paolo Ardoino responded to JPMorgan’s report. Ardoino stated that the increasing market dominance of Tether is positive for them, but it could be seen negatively from JPMorgan’s competitive perspective. 
Ardoino also emphasized that they work closely with regulators and provide education and guidance on <a href="https://newslinker.co/category/technology/" data-wpel-link="exclude">technology</a>. 
<h5>The post first appeared on COINTURK NEWS: <a href="https://en.coin-turk.com/tethers-expansion-and-regulatory-transparency-concerns-highlighted-by-jpmorgan/" data-wpel-link="internal">Tether’s Expansion and Regulatory Transparency Concerns Highlighted by JPMorgan</a></h5>

Tether’s Expansion and Regulatory Transparency Concerns Highlighted by JPMorgan

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