US Stablecoin Regulation Act Likely to be Approved Before Election...Threatening Tether

JPMorgan, one of Wall Street's largest investment banks, said in a report that “of the four cryptocurrency regulatory bills currently under discussion in the U.S. Congress, the Stablecoin Regulatory Act is the most likely to be passed before the November U.S. presidential election.” The Clarity for Payment Stablecoins Act is the most likely to be approved before the November election, which would threaten the market dominance of non-compliant stablecoins such as Tether,” the report explained.