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There are a series of criticisms about the risks of stablecoins in the United States.According to CoinDesk on the 5th (local time), JPMorgan said, &#34;The increase in the dominance of stablecoin tethers (USDT) is negative for the virtual asset ecosystem.&#34; &#34;Stablecoins are regulated by governments, and USDT has a high risk due to lack of transparency,&#34; said Nicholas Panizirzoglu, an analyst at JPMorgan.JPMorgan analyzed that the market capitalization and market share of USDT have grown significantly as it has spread through the centralized exchange (CEX) and DeFi platforms. Tether reported that USDT&#39;s market capitalization reached 100 billion dollars last quarter.U.S. Treasury Secretary Janet Yellen also warned that virtual assets pose a variety of potential risks to the financial system. &#34;FOSC is paying special attention to virtual asset-related risks such as virtual asset platforms, stablecoins, vulnerabilities due to price volatility of virtual assets, and non-compliance with regulatory systems,&#34; she said. &#34;We will continue to cooperate with Congress on virtual asset legislation,&#34; she added.Source: https://www.sedaily.com/NewsView/2D598DIXB0Memetoon Twitter Link : https://twitter.com/memetoonk/status/1754916339767247128

JP Morgan & Janet Yellen Warning of "Stablecoin Risk

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