American crypto regulators are considering more strict laws on stablecoins. A JPMorgan report therefore believes that Tether may have to sell his bitcoin. A hypothesis highly disputed by the USDT transmitter!
A bill that could upset the Crypto market
We refer to the news Act and Genius stable law proposals. They aim to impose more secure reserves on stablecoins issuers. Concretely, they could prohibit the detention of bitcoins, precious metals and other volatile assets for the benefit of treasury bills as well as other investments considered to be safer.
According to JPMorgan analysts, Tether could be forced to sell part of his BTC If these laws were in force. This could cause down pressure on the Crypto market.
Tether would indeed hold more than $ 1.6 billion in Bitcoins (according to his recent declarations). What fuel the concern of Crypto investors!
Tether counterattack: “They don't understand anything about Bitcoin”
L'USDT transmitter Quickly reacted to JPMorgan's claims. He describes the conclusions of the unfounded report. In this sense, a Tether spokesperson said:
“They do not understand Bitcoin or Tether. »»
He also highlights two important points:
- THE US bills are not yet finalized,
- Their application to offshore transmitters remains uncertain.
Indeed, Tether operates mainly outside the United States. It is therefore not directly subject to American crypto regulations. If these laws were in force, they could however affect USDT access to regulated financial markets. Above all, this would force certain crypto investors to limit their exposure.
What impact for the Crypto market?
If Tether had to sell part of his bitcoins, this could create a shock wave on the Crypto market. A massive sale could indeed make drop the price of the BTCthus impacting the entire sector.
On the other hand, some experts believe that Tether has a room for maneuver. In other words, the Crypto company could adjust the composition of its reserves gradually.
In any case, the situation remains uncertain. Investors in cryptocurrencies will have to closely monitor the evolution of these bills. Business to follow!
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