Tether May Launch New Stablecoin If US Regulators Push Out USDT, Says CEO

With all the talk about how stablecoin legislation in the United States is a negative or not influence on foreign issents, you could expect that the largest (and most controversial) issuer on the planet will feel the heat. But that is far from the case, according to Tether CEO Paolo Ardoinino.

Tether actually has no real problem with his flagship Stablecoin, USDT, which is banned in the United States by new regulatory legislation, Ardoino said Decrypt On Friday.

To bypass the potential issue, Tether is considering creating a new Stablecoin domiciled by the US that will meet the hanging American stablecoin laws, Ardoinino said.

“We believe that our most important stablecoin is perfected for emerging markets, but we can make a payment stablecoin that works for the US,” said Ardoinino. “We must have two products with two different value propositions.”

Stablecoins are digital assets that are usually linked to the US dollar, designed to maintain a steady value and to enable cryptocurrency traders to enter and leave positions without gaining direct access to dollars. They are by far the most traded digital assets on the market, good for dozens of billions of dollars of volume every day.

Racing through the House And Senate To floor votes, there are questions about the fate of Tether, by far the largest player in the market.

As currently written, both the stable law of the house and the Genius Act of the Senate would require that foreign stablecoin em posting such as Tether-Die Headquarters in El Salvador-Om to meet the strict anti-Witwaspresist requirements of the Bank Secrecy Act and powerful audits of their reserves.

Tether, the $ 144 billion Stablecoin Kolos, has never been subject to a full financial audit, and critics and competitors have argued that the company would completely leave the US if it had to meet complicated anti-terrorism and anti-Witwaspers rules. Critics have also doubted for years whether Tether has the money that it says to support every USDT – a criticism that the company has a strong fight time and time again.

Ardoino claims that Tether has “the highest level of compliance” among its competitors when it comes to cooperation with law enforcement. He added that the company is currently in conversations with several “big four” accounting companies about a complete audit, but that the companies have so far “rightly” to deal with the novel Stablecoin Market.

And those theories that would remain ties from the US due to new stabilecoin laws? Ardoino says that they stink with ‘the smell of despair’ of Tether’s competitors, who bet ‘everything’ would not play in the United States.

“Here I am,” Ardoino said Friday from the offices of Manhattan of Cantor Fitzgerald. The Wall Street company, run by the American trade secretary Howard Lutnick and his family, has fueled much of Tether’s American treasuries.

And yet, despite his recent show of violence, Ardoino does not seem interested in making the necessary adjustments to let USDT be released in the US. In general, the Tether CEO does not seem too busy with the state of US stablecoin legislation. He says that he is more focused on the emerging markets where USDT has become such a powerhouse in recent years.

“We don’t think something special is problematic,” Ardoino said about the current content of the current American Stablecoin legislation.

However, the Tether CEO said that he is optimistic that USDT is mentioned in the American secondary markets. He added that he believes that access to USDT worldwide is ‘very important for transfers’. As currently written, the Senate’s Stablecoin Bill would only forbid non-compliant issues to offer tokens directly to American users. The bill will continue to prohibit the trade of such non -conforming tokens by preservators such as Coinbase, two years after the law comes into effect.

At a certain point in the coming months, that competing language must be reconciled before a last account is offered – it must receive the required voices – on President Donald Trump’s office for signature.

However, it seems that neither bill would explicitly prohibit the trade of USDT on non-right Defi exchanges such as Uniswap or Jupiter.

As the areas of law all over the world start setting Stablecoin-specific regulations, the activities of Tether are affected in certain markets. Earlier this week, Binance quit USDT of his European sites, since the token does not meet the new requirements of the European Union for Stablecoin spending.

Ardoino said that Tether, similar to his budding American strategy, has invested in several European companies that launch Grassroots Dollar and Euro-Supported Stablecoins that meet the EU regulations.

But the executive power said that he will place a future reality in the long term in which USDT is not an important player in the United States or Europe.

Note of the editors: This article and its head were updated for clarity after the publication of the story.