Brad Garlinghouse Hints at Potential US Regulatory Scrutiny on Tether
During a recent interview on the “World Class” podcast, Ripple CEO Brad Garlinghouse hinted at impending regulatory scrutiny from the US government targeting Tether (USDT). He expressed concerns about the critical role Tether plays in the crypto ecosystem and the potential disruptive consequences if decisive actions are taken against the stablecoin issuer by the U.S. government.
Here’s a breakdown of the key points discussed:
- Garlinghouse’s concerns about Tether’s role in the crypto market
- His speculation on the impact of US government actions on Tether and the broader cryptocurrency space
Garlinghouse Speculates on Tether’s Future Amid Regulatory Trends
Garlinghouse emphasized that recent developments and regulatory trends indicate that Tether could become a target for US regulators. He highlighted the importance of Tether in the market and the potential consequences of stringent US measures not just on Tether but on the entire cryptocurrency industry.
Ripple’s Entry into Stablecoin Market
- Ripple preparing to launch its stablecoin
- Competition between Ripple and Tether in the stablecoin market
- Ripple’s stablecoin release possibly next month
Paolo Ardoino Defends Tether Against Garlinghouse’s Remarks
In response to Garlinghouse’s comments, Tether CEO and Bitfinex CTO Paolo Ardoino defended Tether vigorously. Ardoino criticized Garlinghouse for spreading fear about USDT, suggesting that such statements may be influenced by Ripple’s business interests related to its upcoming stablecoin launch. He dismissed Garlinghouse’s remarks, referring to him as an “uninformed CEO” of a company currently under SEC investigation.
Tether’s Compliance Efforts Highlighted by Ardoino
- Ardoino’s detailed overview of Tether’s operational safety measures
- Tether’s role in providing financial services to millions in emerging markets
- Collaboration with law enforcement and compliance training initiatives
Tether’s Compliance Measures and Collaboration with Law Enforcement
Ardoino outlined the compliance measures implemented by Tether, emphasizing the company’s adherence to OFAC / SDN lists. He also highlighted Tether’s internal investigation team and collaboration with Chainalysis for monitoring and compliance. Tether has a history of cooperation with law enforcement agencies globally, blocking or freezing illicit transactions upon legal requests.
By
By
By
By