Stablecoins Such as Tether May Be in U.S. Sights, Top U.S. Treasury Official Warns
Summary
US Deputy Secretary of the Treasury, Wally Adeyemo, has warned against the risks of non-U.S. stablecoin issuers using dollar backing and the potential for abuse by malicious parties. While he didn't mention Tether (USDT) explicitly, the deputy secretary called for greater compliance with regulations to prevent potential misuse by criminal entities. Adeyemo also referred to his previous speech where he underscored the importance of the industry's proactive approach in curbing illicit activities involving digital assets. Lastly, he noted that the lack of intervention from many firms represents a risk to national security and that action will be taken against those who act above the law.
