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The US crypto regulators are considered by stricter stablecoin laws. The JPMorgan report therefore believes that Tether may have to sell bitcoins. Hypothesis Highly questionable USDT transmitter!
An account that could disrupt the crypto market
We refer to messages Act and Genius Stable Proposals of Law. The aim is to store the stablecoin issuers safer reserves. Specifically, they could forbid detainment of bitcoins, precious metals and other volatile assets in favor of the cash register accounts and other investments considered safer.
According to JPMORGAN analysts, Tether could be forced to sell part of his BTC If these laws were valid. This could cause pressure on the crypto market.
Tether would actually hold more than $ 1.6 billion in bitcoins (according to his recent statements). What supports investors’ crypto concerns!
Tether counterattack: “They don’t understand anything about bitcoins”
L ‘USDT He responded rapidly to JPMorgan’s demands. It describes the conclusions of unfounded reports. In this sense, the spokesperson said:
“They don’t understand bitcoin or harness.” »»
It also emphasizes two important points:
Tether really works mainly outside the US. Therefore, it is not directly subject to American crypt regulations. But if these laws were valid, they could affect USDT access to regulated financial markets. Above all, this would force some crypto investors to reduce their exposure.
What impact on the crypto market?
If Tether had to sell some of his bitcoins, it could create a shock wave on the market crypt. Massive sale could actually make Get rid of the price of BTCThat is, affecting the entire sector.
On the other hand, some experts believe that Tether has room for a maneuver. In other words, the crypt company could gradually modify the composition of its reserves.
In any case, the situation remains uncertain. Investors in cryptocurrencies will have to carefully monitor the development of these accounts. Business to follow!
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My name is Ariela and I’m 31 years old. I have been in the area of writing a website for 7 years. I have discovered discovery and cryptocurrency for only a few years. But it is a universe that interests me a lot. And subjects treated in the platform allow me to learn more. In my free time, the singer also cultivates a great passion for music and reading (and animals!)
Renunciation
The words and opinions expressed in this article are involved only by their author and should not be considered investment counseling. Do your own research before any investment decision.