Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Stable Coins Forum => USDT Forum => Topic started by: Malam90 on March 04, 2021, 02:52:51 AM
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DeFi has cut into Tether's dominance of the stablecoin market. Will greater regulation help win back customers?
If you follow the cryptocurrency scene, by now you’ll have heard about Tether’s settlement with the New York Attorney General’s office.
The settlement marks a big win for stablecoin users. For the next two years, Tether will be required to live up to some of the same regulatory standards as its licensed stablecoin competitors. That means tether (USDT) stablecoins will be safer for the public to use.
J.P. Koning, a CoinDesk columnist, worked as an equity researcher at a Canadian brokerage firm and a financial writer at a large Canadian bank. He runs the popular Moneyness blog.
It might even be good for Tether, too. Of late, the company’s blistering growth has been slowing – the market just doesn’t seem to trust it. Some oversight might alter its trajectory.
For those who aren’t aware of either Tether or its settlement with the New York Attorney General, here’s a quick introduction. Tether’s self-named stablecoin is the largest in the cryptocurrency universe, with some $35 billion tethers in circulation.
The New York Attorney General’s office launched an investigation into Tether in 2019 for fraud. After months of picking through Tether documents, it finally settled with Tether last month. More info (https://www.coindesk.com/regulation-could-actually-help-tether)
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It's true, friends, that the rules for Tether must exist so that Tether in the future can be even better, like the word farthest from the word manipulation or scam.
This rule from the SEC or Attorney General New Yor is very helpful for Tether to develop and become even better in the future, especially now that there are so many altcoins in circulation and all of their money is supported by USDT or Tether.
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In every institution, company or business, there must be rules so that they can be developed properly, safely and positively to welcome a bright future.
This tether must have rules so that it can continue to thrive in the cryptocurrency market and this is clear evidence that every #DevelopmentTeam must do in securing stable coins.