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The Wall Street Journal: Tether and Circle are vying for regulatory dominance in the Stable Coin industry
Golden Finance reported that The Wall Street Journal stated that Tether and Circle are competing for the regulatory leadership of the Stable Coin industry. Tether and Circle represent two competing models of Stable Coin: Tether adheres to the Decentralization concept, while Circle promotes regulatory Compliance. U.S. lawmakers have proposed multiple Stable Coin regulatory bills, which may compel Tether to adjust its reserves. The conflict, as reported, is both about ideology and business, and the outcome of this struggle will determine the future of Stable Coin. If regulators successfully marginalize Tether, Circle’s USDC may gain market share and further integrate Stable Coin into the traditional financial system.