Tether CEO: Considering the creation of a new compliant stablecoin registered in the United States

ChainCatcher news, according to Decrypt, Tether CEO Paolo Ardoino stated that he does not mind if USDT is banned in the United States due to new regulatory laws. Tether is actively considering creating a new stablecoin registered in the U.S. and will comply with the upcoming U.S. stablecoin legislation. "We need two products with different value propositions." Ardoino believes that USDT is more suitable for emerging markets and mentioned that USDT may no longer dominate in the U.S. and Europe in the future.

Under current regulations, both the U.S. House of Representatives and Senate require foreign stablecoin issuers like Tether, headquartered in El Salvador, to comply with the strict anti-money laundering requirements of the Bank Secrecy Act and to undergo rigorous audits of their reserves. The $144 billion stablecoin giant Tether has never undergone a comprehensive financial audit, and critics and competitors argue that if the company must adhere to complex anti-terrorism and anti-money laundering rules, it would completely exit the U.S. For years, critics have also questioned whether Tether truly has the funds to back every USDT token.