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Tether is preparing to launch a new stablecoin if regulators reject USDT
Paolo Ardoino, the CEO of Tether, expressed the company's readiness to launch a new stablecoin tailored for the American market if regulators reject USDT under upcoming legislation.
Tether does not see the potential ban on USDT as a real threat and prefers to focus on emerging markets that it considers more suitable for its current product.
New U.S. legislation, such as the STABLE and GENIUS acts, imposes compliance requirements for foreign issuers concerning anti-money laundering and the Bank Secrecy Act, which may exclude non-American entities from the market.
Tether faces criticism for not undergoing a full financial audit, but it emphasizes its cooperation with regulatory authorities and is in talks with major accounting firms.
For his part, Congressman Tom Emmer expressed his opposition to forcing issuers to fully comply with the Bank Secrecy Act, pointing to the need to protect competition.
Despite the obstacles, Ardoino believes that USDT will remain available in the U.S. secondary markets and that global access to it remains a priority.
The final wording of the legislation is still under negotiation and is expected to be presented later to President Donald Trump for signing if it gains sufficient support in Congress.
#usdt #Tether
#stable #GenuineLabs
Paolo Ardoino, the CEO of Tether, expressed the company's readiness to launch a new stablecoin tailored for the American market if regulators reject USDT under upcoming legislation.
Tether does not see the potential ban on USDT as a real threat and prefers to focus on emerging markets that it considers more suitable for its current product.
New U.S. legislation, such as the STABLE and GENIUS acts, imposes compliance requirements for foreign issuers concerning anti-money laundering and the Bank Secrecy Act, which may exclude non-American entities from the market.
Tether faces criticism for not undergoing a full financial audit, but it emphasizes its cooperation with regulatory authorities and is in talks with major accounting firms.
For his part, Congressman Tom Emmer expressed his opposition to forcing issuers to fully comply with the Bank Secrecy Act, pointing to the need to protect competition.
Despite the obstacles, Ardoino believes that USDT will remain available in the U.S. secondary markets and that global access to it remains a priority.
The final wording of the legislation is still under negotiation and is expected to be presented later to President Donald Trump for signing if it gains sufficient support in Congress.
#usdt #Tether
#stable #GenuineLabs
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