Tether Criticizes JPMorgan Analysts Over Speculation on Bitcoin Sales for Compliance

Tether, the operator of the USDt stablecoin, has criticized JPMorgan analysts for suggesting that it may have to sell Bitcoin to comply with proposed stablecoin regulations in the US. The analysts, led by Nikolaos Panigirtzoglou, released a report on Feb. 12 stating that the bills could force Tether to sell non-compliant assets like Bitcoin and buy compliant assets like T-bills. Tether responded by highlighting that the US stablecoin laws are still being finalized and criticized the analysts for not understanding Bitcoin or Tether. The proposed bills include the GENIUS Act and the STABLE Act, which have stricter reserve requirements for stablecoin issuers. JPMorgan analysts mentioned that Tether may face challenges under these regulations, but Tether's CEO emphasized the company's strong financial position.