New FUD for USDT - American Stablecoin Bill.#Bloombergquotes Democratic member of the US House of Representatives Maxine Waters as saying that the stablecoin bill is almost ready and will appear soon. According to her, the Fed, the Treasury and the White House contributed to its development. A scary list, knowing the attitude of Democrats towards crypto assets.

Another congressman, Sherrod Brown, said he was “open to an agreement that would combine the stablecoin legislation with the marijuana banking bill.” There is a feeling that Congress does not fully understand the importance of resolving the issue. In an industry where the US is increasingly falling behind. Although retaining a huge share of liquidity.

So far, it is known that the document prohibits unsecured algorithmic stablecoins and introduces an anti-money laundering mechanism. It also obliges issuing companies to create reserves of cash and cash equivalents in a one-to-one ratio to secure tokens. Sounds constructive. But there's something else.

Standard & Poor's Global analysts estimate that if the new law is adopted, it will give banks a competitive advantage by limiting the amount of issuance for organizations without a banking license to just $10 million. Accordingly, analysts believe that this law will be able to “undermine the dominance of #Tether.” Their#USDTcapitalization, let us remind you, is $110 billion. Plus the issuer is a non-US company.

But Standard & Poor’s Global admits that we are talking only about the US market:

“... This could reduce demand for the asset and contribute to the growth of the issuance of American “stable coins.” According to our observations, USDT transactions occur primarily outside the US, in emerging markets, and are driven by retail users and remittances."

So this will not put an end to the future of USDT. The biggest risks for stablecoins lie in US sanctions policy. It could hit#Tetherand help#Circleexpand with their#USDCto foreign markets. And she's already coming.