Tether, a leading stablecoin issuer, is committed to providing U.S. dollars to the unbanked population worldwide. The company’s CEO, Paolo Ardoino, expressed optimism regarding upcoming U.S. crypto regulations during his presentation at DC Fintech Week.

Expectations for Improved U.S. Crypto Regulation

Ardoino emphasized that Tether is anticipating positive changes in U.S. crypto regulation. He highlighted that policymakers in the U.S. House of Representatives are considering proposals to formally recognize and support stablecoin issuance in America. While these bills have not yet become law, companies like Ripple are already preparing new offerings in anticipation.

Potential Changes in Stablecoin Issuance

Proposals discussed by politicians, including Patrick McHenry and Maxine Waters, could allow banks to issue stablecoins. This development might challenge Tether’s current market dominance.

Focus on Transparency and Compliance

Tether continues to advance its transparency practices as part of its in-house efforts. Ardoino mentioned that the company is connected to over 180 law enforcement agencies across 45 jurisdictions. Combating illicit cryptocurrency use and safeguarding blockchain payment facilities are among Tether’s top priorities.

Expanding Into Traditional Finance

In addition to its cryptocurrency operations, Tether is considering deeper involvement in traditional finance (TradFi). The company has considered lending its profits from U.S. Treasuries and short-term debt, as well as Bitcoin (BTC) mining, to TradFi institutions. This decision follows record profits in the first half of the year and a significant increase in new users, with over 36.25 million new USDT addresses recorded in Q3 2024.

Exploring New Technologies

Tether is also exploring a shift from its crypto mining division to more artificial intelligence (AI) developments. Northern Data, backed by Tether’s issuer, might sell its crypto mining business to fund AI-centric initiatives.

“Tether remains dedicated to transparency and compliance while exploring new avenues in both traditional finance and innovative technologies,” said Paolo Ardoino.

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