JP Morgan's critique of Tether's failure to comply with stablecoin regulations highlights the potential implications for the entire crypto ecosystem, given Tether's market dominance with a valuation of $140 billion. While Tether is likened to a digital version of the US dollar, experts argue that unlike the dollar, which is sustained by government and military stability, Tether lacks the same level of assurance. The article raises vital questions about Tether’s legitimacy and its impact on financial security within the cryptocurrency space.
Critics call Tether a Ponzi scheme and a haven for financial crime, raising concerns about its role in the cryptomarket due to the lack of regulatory compliance.
Experts posit that the US dollar's stability derives from the backing of the US government and military, suggesting that Tether's value is far less secure.
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