Ripple CEO’s Predictions
In a recent interview, Ripple CEO Brad Garlinghouse suggested that Tether, the leading stablecoin issuer, could be the next target of the US government’s crackdown on crypto. He cited the downfall of FTX and Binance’s regulatory challenges as examples of the government’s growing scrutiny.
Tether CEO’s Response
Tether CEO Paolo Ardoino dismissed Garlinghouse’s claims, accusing him of spreading fear and uncertainty. He highlighted Tether’s global reach, compliance efforts, and collaboration with law enforcement agencies.
Garlinghouse’s Clarification
Garlinghouse clarified that he wasn’t targeting Tether specifically but rather pointing out the government’s intentions to regulate stablecoin issuers. He emphasized that Tether’s dominance in the market made it a prime candidate for regulatory action.
Tether’s Compliance and Security
Ardoino stressed Tether’s commitment to compliance, including its adherence to OFAC/SDN lists and its efforts to block illicit transactions. He criticized the media for failing to report on Tether’s global compliance work.
Conclusion
While Garlinghouse believes Tether could be next in line for government scrutiny, Ardoino maintains that Tether is a safe and compliant stablecoin. The ongoing debate highlights the growing regulatory landscape for cryptocurrencies and the potential impact on the industry.
