Tether CEO Ardoino Says He Expects U.S. Will Catch Up in Crypto Regulation
Tether CEO Paolo Ardoino expressed optimism for sensible crypto and stablecoin regulations in the U.S. during DC Fintech Week. He emphasized the importance of regulations that protect end users and enable stablecoin innovations to assist those lacking financial opportunities globally. Tether, the leading stablecoin issuer with over 330 million users, claims to have cooperated extensively with law enforcement across 45 countries. Ardoino highlighted Tether's resilience during significant redemptions in 2022, asserting that its 104% over-collateralized reserves, primarily in U.S. Treasuries, ensure stability. He criticized European stablecoin regulations and advocated for customer-focused regulations. Rep. French Hill noted potential for crypto legislation during the congressional "lame duck" session, with future priorities set for 2025 if not addressed this year.
