Tether CEO criticizes Morgan Stanley's USDT stance.

Samiksha

Morgan Stanley analysts previously noted in a report that Tether (USDT) holds an excessively dominant position in the stablecoin market, facing risks from the evolving regulatory environments in Europe and the United States. In response, Tether's CEO Paolo Ardoino rebutted Morgan Stanley's claims, branding the financial services giant as "hypocritical." Ardoino stated, "Tether's market dominance may be 'negative' for competitors, including banking rivals aspiring to achieve similar success. However, for the market that needs us the most, this has never been negative. Morgan Stanley's claims about increasing centralization seem hypocritical." Earlier reports from Morgan Stanley expressed concerns about the growing dominance of USDT despite the recent encouraging growth in the stablecoin market. Analysts at Morgan Stanley wrote in a report on Thursday, "Given its lack of regulatory compliance and transparency, Tether faces the greatest risk. Therefore, we believe that the increased concentration of Tether over the past year is negative for the stablecoin universe and the broader cryptocurrency ecosystem." Analysts noted that stablecoin issuers face regulatory risks globally. In the United States, the awaited approval of the "Clarity for Payment Stablecoins Act" is in progress in Congress. Meanwhile, in Europe, the partial implementation of the Markets in Crypto-Assets (MiCA) regulation is expected in June this year. Thus, according to analysts, stablecoin issuers strictly adhering to existing regulations will benefit from the upcoming regulatory scrutiny and may gain market share.

Niti998

Just take a look at the negatives, it's not a big deal.

Ritu13

It's in high demand now.