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Reading: Tether Promotes Dollar Dominance in Emerging Markets: Ardoino[embed]https://www.youtube.com/watch?v=HJLzPZo3BnE[/embed]
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Kriptoteka > Market > Institutions > Tether Promotes Dollar Dominance in Emerging Markets: Ardoino[embed]https://www.youtube.com/watch?v=HJLzPZo3BnE[/embed]
Institutions

Tether Promotes Dollar Dominance in Emerging Markets: Ardoino[embed]https://www.youtube.com/watch?v=HJLzPZo3BnE[/embed]

marcel.mihalic@gmail.com
Last updated: October 22, 2024 8:56 pm
By marcel.mihalic@gmail.com 3 Min Read
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<img src="https://crypto.news/app/uploads/2024/04/crypto-news-TON-Telegram-Tether-option03.webp" /><br><div>
<p class="is-style-lead">The CEO of Tether emphasized the company's commitment to offering U.S. dollars to the billions of unbanked individuals globally and expressed hopes for supportive regulations.</p>
<p>Tether (USDT) CEO Paolo Ardoino <a href="https://www.youtube.com/watch?v=HJLzPZo3BnE&amp;ab_channel=CNBCTelevision" target="_blank" rel="nofollow">stated</a> during DC Fintech Week that the organization anticipates improvements in U.S. crypto regulation while enhancing its internal transparency initiatives.</p>
<p>Legislators in the U.S. House of Representatives have proposed measures to officially acknowledge and support the issuance of stablecoins in America. While these proposals have not yet become law, emerging entities such as Ripple have already announced new offerings in anticipation.</p>
<p>Discussions led by politicians like Patrick McHenry and Maxine Waters could permit banks to issue stablecoins, which might pose a challenge to Tether’s current market position.</p>
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<h2 class="wp-block-heading">Tether’s international collaboration and growth</h2>
<pAccording to Ardoino, the payment provider collaborates with over 180 law enforcement agencies across 45 jurisdictions, sharing this information with the event’s founder, Christopher Brummer. Brummer’s name has been mentioned alongside Dan Gallagher, CLO of Robinhood Markets, as a potential successor to the current chair of the Securities and Exchange Commission, Gary Gensler.</p>
<p>According to Ardoino's statements, addressing illicit cryptocurrency activities and ensuring the security of blockchain payment systems are among Tether’s key objectives.</p>
<p>In other developments, the issuer of USDT may expand its presence in traditional finance beyond U.S. Treasuries and short-term debt. The company is considering lending its substantial profits from Treasury interests as well as its Bitcoin (BTC) mining operations to traditional finance entities.</p>
<p>This decision is likely influenced by record profits in the first half of the year and a surge of new users acquired in Q3 2024, with over 36.25 million new USDT addresses recorded last quarter. Additionally, Tether is exploring a shift from its cryptocurrency mining activities towards further development in artificial intelligence. Northern Data, which is backed by the issuer of USDT, may divest its crypto mining operations to invest in AI-related ventures.</p>

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