US Congressional Initiatives Could Undermine Tether’s Dominance, Says S&P
A bill introduced in Congress regarding payment stablecoins could undermine Tether’s dominance, according to Standard & Poor’s, reports The Block. The document prohibits unsecured algorithmic “stablecoins” and introduces anti-money laundering mechanisms. The bill requires issuing firms to establish reserves of cash and equivalents in a one-to-one ratio to back the tokens. Experts believe its adoption […]
