Brian Armstrong believes that after the inauguration of Donald Trump, regulators will change their position in relation to cryptocurrencies and will be ready to develop rules for market supervision. The businessman suggested that stablecoin bills would emerge in the US, requiring token issuers to hold US Treasury bonds. If the law is passed, Tether and other companies issuing stablecoins will be forced to sell assets not related to US Treasuries.
If Tether does not comply with US laws, Coinbase will have no choice but to remove USDT from the platform, Armstrong said. According to him, many of the exchange’s clients have Tether tokens, and Coinbase will give them the opportunity to switch to a system that it considers more secure.
Armstrong’s statements about the possibility of completely delisting USDT from Coinbase came a month after the crypto exchange closed access to this stablecoin for European traders. The management of the exchange explained this by the desire to comply with the EU Cryptocurrency Regulation Act (MiCA). Under new EU rules, token issuers are required to obtain a license and also keep part of their cash reserves in banks.
In November, Tether CEO Paolo Ardoino announced that the company would stop supporting the euro-pegged stablecoin EURT due to tightening regulation in the European Union. Tether later reported that at the beginning of October, the number of USDT holders worldwide reached 109 million people.
Source: Bits
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