U.S. Crypto Regulations Are Moving Against a CBDC and Non-Compliant Stablecoins Like Tether: JPMorgan

The stablecoin bill is most likely to be approved before the presidential election, and is a threat to tether’s dominance if passed, according to the bank.

U.S. crypto regulations seem to be moving in a direction that opposes the launch of a central bank digital currency, is against local banks embracing crypto and is averse to non-compliant stablecoins, JPMorgan said in a research report. Emerging regulatory initiatives appear to be “against a Fed coin, against U.S. banks engaging with crypto, against non-compliant stablecoins such as tetherhas a higher chance of being approved before the election in November than three other initiatives, the report said. If passed, the bill will bolster U.S. compliant stablecoins, but would threaten the

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