Federal Reserve Official Calls Tether A ‘Challenge’ To Financial Stability

Eric Rosengren, a senior official in the U.S. Federal Reserve identified Tether’s stablecoin, USDT, as a risk to the stability of the current monetary system.According to Rosengren, Tether poses a perceived “challenge” to financial stability, and has been listed in a watchlist by the U.S. central bank. The listing of the USDT stablecoin is aimed at identifying “new disruptors” to short-term credit markets, a key sector for the U.S. monetary system.