{"id":36670,"date":"2025-01-17T10:40:10","date_gmt":"2025-01-17T10:40:10","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=36670"},"modified":"2025-01-17T10:40:10","modified_gmt":"2025-01-17T10:40:10","slug":"tether-ceo-hints-at-expanding-us-presence-amid-regulatory-uncertainty","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=36670","title":{"rendered":"Tether CEO Hints At Expanding US Presence Amid Regulatory Uncertainty"},"content":{"rendered":"

Tether CEO Paolo Ardoino has indicated that the company may consider increasing its presence in the US. However, Tether remains cautious as it monitors the evolving regulatory environment. <\/span><\/p>\n

Speaking to <\/span>Bloomberg TV on 16 January 2025<\/span><\/a>, <\/span>Ardoino<\/span> emphasized the importance of clarity before making any significant moves.<\/span> \u201c<\/span>I cannot exclude Tether moving a bit more toward some US presence, but we are also <\/span>doing that in a cautious way<\/span>,<\/span>\u201d <\/span>he stated.<\/span><\/p>\n

\u201cF<\/span>or the moment, we need regulatory clarity and guidance. We need to see what the laws are <\/span>looking<\/span> like coming from the <\/span>US<\/span>, and then we will decide<\/span>.\u201d<\/span><\/p>\n

EXPLORE: <\/span>Tether CEO Paolo Ardoino Hopes For Net Positive From US Elections, Says Bitcoin Strategic Reserve Is A Great Idea: 99Bitcoins Exclusive<\/a><\/strong><\/p>\n

Crypto Set To Become National Priority Under Trump Administration<\/span><\/h2>\n

Ardoino\u2019s<\/span> comments come at a pivotal moment for the crypto industry<\/span>, as President-elect<\/span> Donald Trump <\/span>is expected<\/span> to sign an executive order making cryptocurrency a national priority shortly after his January 20 inauguration.<\/span><\/p>\n

This potential policy shift has sparked optimism among companies like Tether about a more supportive regulatory framework in the <\/span>US<\/span>.<\/span><\/p>\n

During an October appearance at DC Fintech Week, <\/span>Ardoino<\/span> praised the <\/span>US<\/span>\u00a0as a leader in technological innovation but lamented its lagging crypto regulations.<\/span> \u201c<\/span>This is the first time in history that I see the U.S. dropping the ball,<\/span>\u201d <\/span>he remarked.<\/span><\/p>\n

While talking to 99Bitcoins in October 2024, Ardoino said, \u201cI think the US is watched by the rest of the world. So many other regulators will tend to copy the regulations. For example, when the US approved ETFs, everything changed. Many countries followed suit.\u201d<\/p>\n

While Tether weighs its options in the <\/span>U.S.<\/span>, it has recently shifted its operations to El Salvador after securing a digital asset service provider license from the Bitcoin-friendly nation. <\/span><\/p>\n

Ardoino<\/span> hailed El <\/span>Salvador\u2019s<\/span> regulatory framework as<\/span> \u201c<\/span>comprehensive<\/span>\u201d <\/span>and suggested it could serve as a model for other countries.<\/span><\/p>\n

Financially, Tether <\/span>is poised<\/span> for a record-breaking year. The company <\/span>is likely to<\/span> surpass its initial $10 billion profit forecast for 2024, <\/span>Ardoino<\/span> revealed, driven by its highly profitable <\/span>US<\/span> Treasury holdings managed by Cantor Fitzgerald. The firm reported $2.5 billion in Q3\u00a0 profits, bringing its total to $7.7 billion by September.<\/span><\/p>\n

The digital assets licensing framework in El Salvador is very comprehensive and the application process is thorough. Same for the stablecoin one.<\/p>\n

It should be taken as an example by the rest of the world.<\/p>\n

\u2014 Paolo Ardoino (@paoloardoino) January 16, 2025<\/a><\/p>\n\n

Additionally, Tether has made strategic investments. This includes a $775 million stake in the video-sharing platform Rumble, aligning with its commitment to freedom of speech. <\/span><\/p>\n

Tether\u2019s<\/span> flagship stablecoin, USDT, remains the dominant player in the market, boasting a $137 billion market capitalization and a 64% market share, according to CoinGecko.<\/span><\/p>\n

EXPLORE:\u00a0<\/span>10 Coins with High Returns: Crypto Forecast 2025<\/span><\/a><\/strong><\/p>\n

Tether<\/span> \u201c<\/span>Attracts Property Rights Under English La<\/span>w\u201d<\/span><\/h2>\n

In September, the UK High Court\u00a0<\/span>ruled that the stablecoin<\/span><\/a> Tether (USDT) is legally recognized as property under English law. The ruling was the first full trial judgment in the UK on the legal status of crypto, setting a precedent for\u00a0the treatment of\u00a0these assets in the region.<\/span><\/p>\n

The case involved a fraud victim whose stolen cryptocurrencies, including Tether, were transferred through various crypto exchanges after being laundered through crypto mixers.<\/span><\/p>\n

The proposed law is expected to aid judges in handling complicated disputes involving digital assets. It could address situations where digital holdings are disputed in legal proceedings, including cases related to asset division during divorces or other settlements.<\/span><\/p>\n

EXPLORE: <\/span>Best New Cryptocurrencies to Invest in 2025<\/span><\/a><\/strong><\/p>\n

The post Tether CEO Hints At Expanding US Presence Amid Regulatory Uncertainty<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Tether CEO Paolo Ardoino has indicated that the company may consider increasing its presence in the US. However, Tether remains cautious as it monitors the evolving regulatory environment. Speaking to Bloomberg TV on 16 January 2025, Ardoino emphasized the importance of clarity before making any significant moves. \u201cI cannot exclude Tether moving a bit more […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-36670","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/36670"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=36670"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/36670\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=36670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=36670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=36670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}