Tether CEO Paolo Ardoino has indicated that the company may consider increasing its presence in the United States. However, Tether remains cautious as it monitors the evolving regulatory environment.
Talking to Bloomberg TV on January 16, 2025, Ardoino stressed the importance of clarity before making any significant move. “I can’t rule out Tether moving a little more towards a US presence, but we are doing that too do it carefully,” he stated.
“FFor now, we need regulatory clarity and guidance. We need to see what the laws are watch as if it came from USand then we will decide.”
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Cryptocurrencies are set to become a national priority under the Trump administration
The one from Ardoino the comments come at a crucial time for the cryptocurrency industryas president-elect Donald Trump it is expected to sign an executive order making cryptocurrency a national priority shortly after taking office on January 20.
This potential policy change has sparked optimism among companies like Tether regarding a more favorable regulatory framework in the market US.
During an October appearance at DC Fintech Week, Ardoino praised the US as a leader in technological innovation, but has complained about its lag in crypto regulations. “This is the first time in history that I’ve seen the United States drop the ball,” he noted.
Speaking to 99Bitcoins in October 2024, Ardoino said: “I think the United States is being watched by the rest of the world. Many other regulators will tend to copy the regulations. For example, when the United States approved ETFs, everything changed. Many countries have followed suit.”
As Tether weighs its options in the USrecently moved its operations to El Salvador after securing a digital asset services provider license from the Bitcoin-friendly nation.
Ardoino greeted El Salvador’s regulatory framework as “complete” and suggested it could serve as a model for other countries.
Financially, Tether is in the balance for a record year. The company chances are it will exceed the initial profit forecast of $10 billion for 2024, Ardoino revealed, driven by its high profitability US Treasury securities managed by Cantor Fitzgerald. The company reported profits of $2.5 billion in the third quarter, bringing the total to $7.7 billion by September.
The licensing framework for digital assets in El Salvador is very comprehensive and the application process is thorough. Same thing for stablecoins.
It should be taken as an example by the rest of the world.
—Paolo Ardoino
(@paoloardoino) January 16, 2025
Additionally, Tether has made strategic investments. This includes a $775 million stake in video-sharing platform Rumble, in line with its commitment to free speech.
Tether’s According to CoinGecko, the flagship stablecoin, USDT, remains the dominant player in the market, boasting a market capitalization of $137 billion and a 64% market share.
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Bind “Attracts property rights under English laww”
The High Court of the United Kingdom in September has established that the stablecoin Tether (USDT) is legally recognized as property under English law. The ruling was the first full trial ruling in the UK on the legal status of cryptocurrencies, setting a precedent for the treatment of these assets in the region.
The case involved a fraud victim whose stolen cryptocurrencies, including Tether, were transferred through various cryptocurrency exchanges after being laundered through cryptocurrency mixers.
The proposed law is expected to help judges in handling complicated disputes involving digital assets. It may address situations where digital holdings are contested in legal proceedings, including cases involving the division of assets during divorces or other settlements.
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