JPMorgan Warns of Increased Risk for Crypto Market Due to Tether’s ‘Lack of Regulatory Compliance and Transparency’
JPMorgan has warned of increased risk for the crypto market resulting from Tether’s “lack of regulatory compliance and transparency.” The global investment bank’s analysts explained that other stablecoin issuers that have been more compliant with existing regulations are likely to benefit from the coming regulatory crackdown on stablecoins and gain market share. JPMorgan Warns About Tether and Crypto Market Risks Global investment bank JPMorgan released a report on Thursday cautioning that the rapid expansion of Tether’s USDT stablecoin is a risk for the crypto market overall. USDT is the world’s largest stablecoin, with a market capitalization exceeding $96 billion at the time of writing. JPMorgan’s analysts explained that Tether’s “lack of regulatory compliance and transparency” is an increasing risk for the overall crypto market. Noting that Tether falls short of competitor Circle, the issuer of USDC, when it comes to regulatory compliance for their stablecoins, the analysts w...