Analysts maintain that Tether’s current operating model is more similar to that of a “suspicious” bank than that of a transparent financial institution.
Although the cryptocurrency market received an extra boost with the return to the presidency of donald trump in the USABloomberg analysts believe that such measures will not be good for Tethercompany responsible for the stablecoin with the highest market capitalization today.
In a recently published editorial, they anticipate that the policies the Trump administration is considering implementing could call into question the way Tether currently works, as Certain accusations weigh on the main stablecoin that could complicate its regulatory future.
“First, the more Tether grows, takes risks, and interconnects with Wall Street firms like Cantor, the greater the chance that crises in the cryptocurrency sector will infect the broader financial system. In second place, A Tether resurgence could greatly expand opportunities for illicit activity, undermining governments’ ability to fight crime, counter terrorism, and enforce sanctions.“, indicates the report.
The considerations presented by Bloomberg maintain that Tether, on the one hand, tried to expand beyond the niche of stablecoinswhile, on the other, faces regulatory challenges mainly in European territory.
The biggest challenge that Tether is currently facing has to do with the new regulations that will come into force in Europe, specifically the MiCA Law, since not having a respective license, its USDT stablecoin will not be able to operate in all those exchanges that want to offer their products and services at a regional level.
Source: Ambito
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