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#PI Latest news, the U.S. Treasury is formulating new regulations for stablecoin oversight, expected to be announced next month. It is said that this time they are serious, requiring all stablecoin issuers to obtain a banking license, and reserves must be held in accounts regulated by the Fed. This could be a nightmare for USDT, as Tether's longstanding opaque operations will have nowhere to hide. In contrast, USDC may emerge as the biggest winner, as Circle has already gone far down the path of Compliance.


The market reaction has become very apparent; USDC's market share is quietly rising, and many large institutions are starting to swap USDT for USDC. Although USDT is still the leader, accounting for over 60% of the market share, this proportion is continuously declining.
If the new regulations are strictly enforced, USDT may be forced to exit the US market, which would be a huge shock to the entire cryptocurrency ecosystem. After all, USDT is the pricing unit for most trading pairs and is the infrastructure of the entire market.
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