COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: JP Morgan Analysts Suggest Potential Regulatory Pressure on Tether
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Tether (USDT) > JP Morgan Analysts Suggest Potential Regulatory Pressure on Tether
Tether (USDT)

JP Morgan Analysts Suggest Potential Regulatory Pressure on Tether

In Brief

  • JP Morgan analysts hint at possible US regulatory pressure on Tether.

  • Tether CEO claims JP Morgan's concerns stem from jealousy over financial services.

  • Upcoming regulations could significantly impact Tether's use, analysts say.

COINTURK NEWS
COINTURK NEWS 1 year ago
Share
SHARE

JPMorgan analysts suggest that regulatory bodies in the US may apply some pressure on Tether, which could be facilitated by OFAC. OFAC is an official institution in America that controls foreign assets. In response to this, Tether’s CEO commented that JPMorgan’s concerns seem to be related to “jealousy towards the growth of financial and payment services.”

Contents
Report Says This About TetherTether CEO Comments on Jealousy

Report Says This About Tether

Analysts led by Nikolaos Panigirtzoglou at JPMorgan released a report today. Highlighting the potential for US controls at this stage where Tether’s offshore usage is emphasized, JPMorgan pointed to Tether’s relationship with Tornado Cash, a privacy enhancement platform on the Ethereum network, as a reason for such oversight.

OFAC, a unit of the US Treasury Department, had sanctioned Tornado Cash in 2022, claiming it was a significant tool used by malicious actors for money laundering. At that time, Tether stated it would not block Tornado Cash addresses as the company had not yet received such a request from US authorities.

However, in December of the past year, Tether announced that it had frozen stablecoins held in crypto wallets sanctioned by OFAC as a “proactive” security measure and ultimately complied with OFAC’s request.

Tether CEO Comments on Jealousy

Speaking on the matter, Tether CEO Paolo Ardoino suggested that JPMorgan is envious of Tether’s dominant position in the cryptocurrency market, emphasizing the company’s move following the OFC request in December and stating:

“JPMorgan’s current concerns appear to be more about jealousy towards the growth of financial and payment services, which they have ignored for a decade and are now sad to see gaining much attention. If I were in their place, I would be more worried about their total fines of 39 billion dollars.”

Earlier this month, Ardoino had opposed JPMorgan’s statement that the increasing use of Tether was a negative development for the cryptocurrency markets, calling the bank’s stance “hypocritical.”

According to JPMorgan analysts, with the upcoming stablecoin regulations, the use of Tether will decrease significantly. The analysts also suggested that regulations in Europe could create additional pressure on Tether and predicted challenges in the DeFi space in the coming periods.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Tether Faces Criticism Over Financial Practices and Stability

Tether AI Pioneers Open Source Blockchain-Based Payment Integration

Tether Achieves Record Financial Gains with Strategic Investments

Tether Dominates Q1 2025 with Record Profits and Treasury Investments

Tether Ventures into Agriculture by Acquiring Major Stake in Adecoagro

COINTURK NEWS 15 February, 2024 - 9:52 pm 15 February, 2024 - 9:52 pm
Share This Article
Facebook Twitter
Share
Previous Article Bitcoin Struggles for New Highs as Altcoins Show Promise
Next Article Bitcoin Continues to Break Records Against Fiat Currencies
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Trump Invites Key Figures to the 2025 Bitcoin Conference
Bitcoin (BTC)
US Makes Bold Moves in Tariff Negotiations Sparking Crypto Market Surge
Cryptocurrency News
Ethereum Surges After Major Update: What it Means for Crypto Markets
Ethereum (ETH)
Cryptocurrencies Rise While CAPO Warns of Key Market Levels
Cryptocurrency News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?