USDT may be banned. The US Senate has proposed a stablecoin bill to encourage banks to enter the stablecoin market, and Tether will be kicked out.

Last week, the US Senate proposed the latest stablecoin bill, intending to ban algorithmic stablecoins (Luna, Ena, etc.), requiring issuers to support their tokens 1:1, and implement an anti-money laundering framework.

Regarding this bill, S&P Global analysis pointed out that it will weaken Tether's dominance in the global stablecoin market.