According to Odaily Planet Daily, JPMorgan Chase recently stated that the US crypto regulatory measures have been strengthened in the past few months, and the stablecoin bill is very likely to be approved before the presidential election. Once the bill is passed, it will pose a threat to Tether's dominance. The US House of Representatives passed a bill last month prohibiting the Federal Reserve from issuing central bank digital currencies, so the central bank is less likely to issue digital currencies. Emerging regulatory measures seem to oppose US banks' participation in cryptocurrencies, non-compliant stablecoins such as Tether, and the classification of all tokens other than Bitcoin (BTC) and Ethereum (ETH) as securities.
