PANews reported on April 5 that according to Decrypt, Tether CEO Paolo Ardoino said that he does not mind USDT being banned in the United States due to new regulations. Tether is actively considering creating a new stablecoin registered in the United States and will comply with the upcoming US stablecoin law. "We need two products with different value propositions." Ardoino believes that USDT is more suitable for emerging markets and said that USDT may no longer dominate the United States and Europe in the future.
As currently stipulated, both the U.S. House of Representatives and the Senate require foreign stablecoin issuers such as Tether, which is based in El Salvador, to comply with the strict anti-money laundering requirements of the Bank Secrecy Act and to conduct rigorous audits of their reserves. Tether, the $144 billion stablecoin giant, has never undergone a comprehensive financial audit, and critics and competitors believe that if the company had to comply with complex anti-terrorism and anti-money laundering rules, it would withdraw from the United States altogether. Critics have also questioned for years whether Tether actually has the money to back each USDT token.
