TechFlow news, April 5 — According to Decrypt, Tether CEO Paolo Ardoino said the company will not make its flagship stablecoin USDT comply with upcoming U.S. stablecoin regulations, but instead plans to launch a new stablecoin that meets U.S. regulatory requirements.
Ardoino believes USDT is better suited for emerging markets and expressed no concern over potential bans on USDT under U.S. regulatory legislation. Currently, both the STABLE Act in the House of Representatives and the GENIUS Act in the Senate require foreign stablecoin issuers to comply with anti-money laundering obligations under the Bank Secrecy Act and undergo strict reserve audits.
Earlier this week, Binance delisted USDT from its European platforms because USDT failed to meet the EU's new stablecoin issuance requirements, the report said. Ardoino stated the company expects USDT will not dominate the U.S. and European markets in the future.
