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Tether May Develop U.S.-Only Stablecoin Under New Regulations: FT
Paolo Ardoino said that if new rules are brought in "make stablecoins competitive, there could be an interest from Tether to create a domestic stablecoin."
What to know:
- Tether may offer a new token specifically for the U.S., according to a Financial Times report.
- Paolo Ardoino said the company had been involved in discussions about the U.S. rules on stablecoins.
- Regulations being considered by President Donald Trump's administration include plans to force foreign issuers trading crypto to comply with U.S. laws.
Tether, issuer of the world's largest stablecoin USDT, may offer a new token specifically for the U.S., according to a Financial Times report on Monday.
Paolo Ardoino said the company had been involved in discussions about the U.S. rules on stablecoins and that it may create a token just for the U.S, depending on how these discussions unfold, the FT reported, citing an interview with the Tether CEO.
STORY CONTINUES BELOW
Ardoino said that if new rules are brought in"make [U.S.] stablecoins competitive, there could be an interest from Tether to create a domestic stablecoin," which would be "basically a settlement currency."
He added that the Trump administration views stableoins as "an important instrument in the United States."
Stablecoins are digital tokens pegged to the value of a traditional financial asset, most commonly the U.S dollar.
Regulations being considered by President Donald Trump's administration include plans to force foreign issuers trading crypto to comply with U.S. laws.
Tether did not immediately respond to CoinDesk's request for further comment.
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
