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USDT issuer Tether could launch a new coin if the US does this! - Coin Bulletin
Tether CEO Paolo Ardoino announced that they plan to launch a new payment-focused stablecoin in response to upcoming restrictions on USDT in the US.
As the company behind Tether, the USDT stablecoin is frequently in the spotlight due to new regulations to be introduced in the USA. However, CEO Paolo Ardoino stated that they do not plan to exit the market even if USDT is banned in the USA. Ardoino expressed that they will continue to work on a new stablecoin compliant with US regulations. He mentioned that USDT is more suitable for emerging markets and that they could develop a different payment-focused stablecoin for the USA.
Stablecoins are digital assets that are generally pegged to the US dollar and are widely used in cryptocurrency trading. Legal regulations regarding stablecoins in the US could particularly affect major players like Tether. With changes in US laws, Tether could issue a new stablecoin instead of the current USDT. Ardoino emphasized that this new coin would be designed to fit the US market.
Tether’s strategy regarding legal regulations
The CEO of Tether stated that legal challenges would not hinder the company’s growth. Ardoino mentioned that USDT could be completely banned in the US and Europe, but this would not lead to a significant change in the company’s global strategy. Tether expressed that it believes it can continue its operations despite the strict regulations in the US market by focusing on developing markets globally.