JPMorgan: US cryptocurrency regulation is targeting CBDCs and non-compliant stablecoins
JPMorgan (JPM) stated in a research report that US cryptocurrency regulations seem to be moving towards opposing the introduction of central bank digital currencies, opposing local banks accepting cryptocurrencies, and opposing non-compliant stablecoins. The bank stated that the stablecoin bill is most likely to be approved before the presidential election, and if passed, it will pose a threat to Tether's dominant position. After the House of Representatives passed a bill last month prohibiting the Federal Reserve from issuing digital currencies, the possibility of the central bank issuing digital currencies is low.
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