Former SEC official calls for US ban on Tether, calls it a ‘mammoth house of cards’

Former U.S. Securities and Exchange Commission (SEC) official John Reed Stark urged U.S. financial regulators to ban crypto firms from offering Tether USDT, describing the firm as a “mammoth house of cards.” In a May 9 long-form Twitter post, Stark touched on different issues plaguing Tether to drive home his point.