Tether Eyes US Expansion as New Stablecoin Rules Take Shape
Main Idea
Tether's CEO, Paolo Ardoino, discusses plans for US expansion following the GENIUS Act, focusing on institutional markets and partnerships, while addressing ongoing legal challenges and compliance efforts.
Key Points
1. Tether is developing a US-specific stablecoin strategy focused on institutional markets, following the GENIUS Act.
2. The company is avoiding direct competition with USDC and instead focusing on building partnerships.
3. Tether faces ongoing legal scrutiny, including a 2018 investigation by the US Justice Department and a 2019 case resulting in an $18.5M fine and cessation of operations in New York.
4. Tether has been involved in positive initiatives, such as freezing $1.6M linked to terrorist financing and assisting the DOJ in a global scam crackdown.
5. CEO Paolo Ardoino highlights Tether's transparency and traceability as strengths in combating illicit financial activities.
Description
The stablecoin behemoth is benefiting from the easing of crypto regulations in the world’s fourth-largest country by landmass. Despite numerous roadblocks, the company says its main priorities remain growth, expansion, and cooperation. The Road Ahead In a July 23rd interview with Bloomberg, the CEO of the company, Paolo Ardoino, shared his plans for broading within US soil, after the most recently passed stablecoin regulation, The Guiding and Establishing National Innovation for US Stablecoins (...
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