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TechFlow news: JPMorgan stated that although stablecoin issuers may not be U.S. entities, U.S. authorities can still exert a certain degree of control over them through the Office of Foreign Assets Control (OFAC).
The CEO of Tether said JPMorgan's concerns appear to be "more related to envy over the development of financial and payment services."
JPMorgan stated that even if stablecoin issuers are not U.S. entities, U.S. authorities could still exert a degree of control over them through the Office of Foreign Assets Control (OFAC). Tether's CEO responded, saying JPMorgan's concerns appear to be "more related to envy regarding the development of financial and payment services."
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