According to PANews, JPMorgan highlighted in a research report on Wednesday that increasingly stringent stablecoin regulations could pose a significant challenge to Tether's market dominance. Under the European Markets in Crypto-Assets (MiCA) regulation, 60% of stablecoin reserves must be held in European banks, potentially forcing Tether to adjust its reserve management strategy. Tether has previously faced regulatory scrutiny due to a lack of transparency in its reserve composition. The new regulations will further increase the pressure on Tether to disclose detailed information and undergo audits. JPMorgan believes that if Tether fails to comply with these new rules, its dominance in the stablecoin market could be threatened.