Tether Unfazed by Potential USDT Ban in the United States

Should USDT fail to meet US stablecoin regulations, Tether plans to issue a new asset specifically for the American market. This was revealed by the company’s chief, Paolo Ardoino, to Decrypt.

“We believe [USDT] is perfectly suited for emerging markets, but we can create a payment stablecoin that will operate in the US,” he noted.

Two competing bills concerning “stablecoins” are under consideration in Congress — the STABLE Act and the GENIUS Act. Both propose special requirements for foreign issuers, including Tether, which is registered in El Salvador.

Ardoino stated that he is more interested in emerging markets, where USDT plays a significant role. American legislation concerns the entrepreneur to a lesser extent:

“We don’t think there’s anything particularly problematic [in the stablecoin bills].”

Furthermore, Ardoino believes that USDT will continue to trade on the secondary market — under the current form, the GENIUS legislative restrictions pertain to the direct sale of the asset to American citizens, while the STABLE Act prohibits trading for custodial intermediaries like Coinbase two years after coming into effect.

Back in March, Ardoino predicted that the number of USDT users would grow to one billion.