In a comment to the media, Tether’s CEO addressed the important topic of stablecoin regulation in the United States. He noted that in the event of restrictions against foreign issuers, the company is prepared to consider launching a new asset specifically designed for this market.
This is reported by Business • Media
According to reports, two bills are currently being developed in the U.S. regarding the regulation of stablecoin issuance and circulation — STABLE and GENIUS. Tether, as sources indicate, participated in the development of the first one. Both projects include certain restrictions for foreign issuers.
New Asset in the U.S. Market
Tether’s centralized headquarters is located in El Salvador, which was emphasized by Circle CEO Jeremy Allaire, the issuer of USDC. He noted that companies issuing dollar-pegged stablecoins must be registered in the U.S.
According to Ardoino, Tether is ready for any changes in the situation:
“We believe that our primary stablecoin [USDT] is perfectly suited for emerging markets, but we can create an asset that will operate in the U.S. We need to have two products with two different value propositions.”
Tether’s Optimism Amid Changes
Ardoino added that the company is focused on emerging markets and does not see serious issues with the current legislation regarding stablecoins. Despite the potential impact of both bills on USDT, experts from Decrypt noted that they do not prohibit the circulation of stablecoins on DeFi platforms.
Similarly, Tether is already demonstrating activity in the European Union: the company’s portfolio organization, Quantoz Payments, successfully issued stablecoins pegged to the dollar and euro, fully compliant with the MiCA regulation.