USDT may be banned, US Senate: Encourage banks to enter the stablecoin market, Tether will be kicked out
Last week, the US Senate proposed the latest stablecoin bill, intending to ban algorithmic stablecoins, 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.
However, Tether is a non-US company, so it is not a payment stablecoin allowed by the proposed bill, which also means that US users cannot hold or trade Tether, which may reduce demand while boosting US domestic stablecoins.
A long time ago, I suggested that friends try to change USDT to USDC. There is a difference between the two. USDC is a stablecoin backed by the US dollar, and its parent company is certified and audited by financial institutions every month, with higher transparency and security.
Remember, USDC is the best.
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