According to ChainCatcher, citing Decrypt, Tether CEO Paolo Ardoino stated that he is not concerned about USDT being banned in the United States due to new regulatory regulations. Tether is actively considering creating a new stablecoin registered in the United States and will comply with the upcoming U.S. stablecoin legislation. "We need two products with different value propositions". Ardoino believes that USDT is more suitable for emerging markets and suggests that USDT may no longer dominate in the United States and Europe in the future.
According to current regulations, both the U.S. House of Representatives and Senate require foreign stablecoin issuers like Tether, headquartered in El Salvador, to comply with strict anti-money laundering requirements under the Bank Secrecy Act and undergo rigorous audits of their reserves. The stablecoin giant Tether, with a market capitalization of $144 billion, has never undergone a comprehensive financial audit. Critics and competitors believe that if the company must adhere to complex counter-terrorism and anti-money laundering rules, it would completely withdraw from the United States. For years, critics have also doubted whether Tether truly has the funds to back each USDT token.