JPMorgan: U.S. Cryptocurrency Regulation is Targeting CBDCs and Non-Compliant Stablecoins

ChainCatcher news, JPMorgan Chase (JPM) stated in a research report that U.S. cryptocurrency regulation seems to be moving towards opposing the launch of central bank digital currencies, opposing local banks accepting cryptocurrencies, and opposing non-compliant stablecoins. The bank noted that the stablecoin bill is most likely to be approved before the presidential election, and if passed, it would pose a threat to Tether's dominance. After the House passed a bill last month prohibiting the Federal Reserve from issuing digital currencies, the likelihood of central bank-issued digital currencies has decreased.