The post Tether CEO Slams Rival Stablecoins For ‘Lawfare’ Tactics appeared on BitcoinEthereumNews.com.

Tether CEO Paolo Ardoino has accused rival stablecoin issuers of using regulatory pressure to hinder USDT’s growth. He criticized competitors for employing legal tactics to block Tether’s access to U.S. Treasuries. The controversy arises as U.S. lawmakers propose new stablecoin regulations that could affect international issuers. Ardoino Highlights USDT’s Global Financial Reach Tether remains the largest stablecoin, widely used in emerging markets for financial access and remittances. Ardoino demonstrated how Tether reaches three major sectors: digital platforms, institutional payment systems and thousands of kiosks throughout Africa and South America. He emphasized that USDT serves 400 million people, providing a crucial financial tool for the underserved. Tether holds over $115 Billion in U.S. Treasuries, ranking as the 18th largest holder of these assets. However, proposed regulations could restrict foreign stablecoin issuers from accessing U.S. Treasuries, impacting Tether’s holdings. Such proposed regulatory rules present a risk to financial inclusion options for developing nations according to Ardoino’s assessment of the matter. Despite regulatory scrutiny, Tether continues to report strong financial performance. The recent financial data shows that Tether generates a $6.2 Billion annual profit through managing assets worth more than $100 Billion. Tether remains a key player in global finance, reinforcing the dominance of dollar-backed digital assets. Tether CEO Warns of Stablecoin Restrictions Ardoino denounced his competitors in the stablecoin market because they used political influence and regulatory pressure to acquire restrictive rules. Through legal frameworks these companies try to eliminate competition while choosing not to innovate according to their stance. Stablecoin regulations as described by him would create risks that endanger the financial security of communities which use stablecoins as their primary asset. The U.S. stablecoin regulations worry Vance Spencer and his fellow co-founder of Framework Ventures. According to his perspective foreign issuer restrictions have the capability to diminish the worldwide influence…

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Filed under: News - @ February 26, 2025 7:27 pm