New legal regulations concerning the crypto money market in the US are on the agenda. Paolo Ardoino, CEO of Tether, plays an active role in this process by directly communicating with US officials. The company participates in the work to adapt to the new legal framework for crypto currencies and to strengthen its position in the sector. The conditions set for dollar referenced stablecoins, especially, may affect the future of the market.
Interviews between Tether and US officials
Tether wants to take part in shaping new law bills for the crypto money market. CEO Paolo Ardoino announced that they are actively in contact with US regulators. He said that their aim is to make the company’s voice in the face of legal regulations and to contribute to the process.
The proposed new laws bring more strict conditions for the export and management of dollar -supported stablecoins. Companies will be subjected to audit by American accounting companies. In addition, the specified reserve rates will have to be approved by the legal regulators.
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Last week, the first draft was presented by representatives from Wisconsin and Arkansas. Following this process, it was reported that the discussions were further intensified with new suggestions from California and Tennessee. In these talks, Tether announced that he would act within the regulatory frame, maintaining his own position.
How will Stablecoin arrangements affect the crypto money market?
The US regulatory processes are critical for companies that export large stablecoin such as Tether. The clarification of regulations may increase confidence in the stablecoin market. However, more strict legal requirements can make it difficult for companies to function.
Tether shares his daily reserve information with the public within the scope of transparency policy. On the official website, regular updates are provided on net assets and debts. Following the negotiations with the USA, it is wondered how the company will follow in the legal adaptation process.
It remains unclear how the regulations will affect the stablecoin market. However, with the clarification of the legal framework, it is aimed to create a structure based on more solid foundations in the US market.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
