Tether’s boss reiterated the stablecoin issuer’s interest in providing U.S. dollars to the unbanked billions worldwide and expressed expectations for favorable regulations.

Tether (USDT) CEO Paolo Ardoino told DC Fintech Week attendees that the company sees U.S. crypto regulation improving while continuing its in-house efforts to advance transparency practices.

Policymakers in the U.S. House of Representatives have floated proposals formally recognizing and supporting stablecoin issuance in America. Although bills have yet to transition into law, new players like Ripple have already announced offerings in anticipation.

Rules discussed by politicians like Patrick McHenry and Maxine Waters could also authorize banks to issue stablecoins, potentially challenging Tether’s market dominance.

Tether’s global cooperation and expansion

The payment provider is connected to over 180 law enforcement agencies across 45 jurisdictions, Ardoino told the event’s founder, Christopher Brummer. Brummer’s name has been mentioned alongside Robinhood Markets CLO Dan Gallagher as a possible replacement for current Securities and Exchange Commission chair, Gary Gensler.

Combating illicit cryptocurrency use and safeguarding blockchain payment facilities remain among Tether’s top priorities, according to Ardoino’s remarks.

In other news, USDT’s issuer could deepen its involvement in traditional finance beyond U.S. Treasuries and short-

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Author: Naga Avan-Nomayo