Ardoino Breaks Silence on USDT Ban: Tether to Launch Dual Stablecoin Strategy
Paolo Ardoino, the CEO of Tether, stated on Friday that he had no substantive objection to the United States’ new regulatory legislation banning USDT, the company’s main stablecoin According to Ardoino, Tether is thinking of developing a new stablecoin with a U.S. domicile that would abide by any future stablecoin regulations in order to get around the possible problem.
We believe that our main stablecoin is perfected for emerging markets, but we can craft a payment stablecoin that works for the US. We need to have two products with two different value propositions.
Ardoino
Tether in Talks with Big Four for Full Audit Despite Industry Skepticism
If Tether, the $144 billion stablecoin giant, had to adhere to complex anti-terrorism and anti-money laundering regulations, detractors and rivals have said the corporation would completely leave the United States. Tether has never submitted to a comprehensive financial audit. Tether has repeatedly and vehemently disputed the claim that it lacks the funds to support each USDT token, which has been around for years.
According to Ardoino, when it comes to law enforcement collaboration, Tether has the best compliance rate among its rivals. He also mentioned that the company is now discussing a complete audit with many “Big Four” accounting firms but that the firms have been understandably wary about getting involved in the new stablecoin sector thus far. They smell of the desperation of Tether’s rivals, who were wagering everything that the company wouldn’t come to play ball in the US, according to Ardoino.
Tether CEO Shrugs Off U.S. Stablecoin Laws, Eyes Growth in Emerging Markets
Ardoino has recently demonstrated his force in the United States, but he doesn’t seem interested in making the required changes to let USDT be issued freely there. The CEO of Tether is unconcerned about the current status of stablecoin laws in the United States. Since USDT has grown so strong in recent years, he claims he is more interested in emerging markets.
We don’t think there is anything particularly problematic,
Ardoino
As for USDT’s continued listing in U.S. secondary markets, the Tether CEO expressed optimism. He went on to say that he thinks it’s critical for remittances that USDT be accessible worldwide.
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