Tether's CEO, Paolo Ardoino, appeared remotely at DC Fintech Week to discuss how his company is cooperating with law enforcement agencies and his support for government oversight. Ardoino stated that he is counting on sensible crypto regulations to be introduced in the US, which will allow stablecoin innovations to continue and provide opportunities for people in other parts of the world. Tether is the top global issuer of stablecoins and has been emphasizing its cooperation with governments after a history of defiance. Ardoino also defended Tether's reserves and argued that the company's holdings in US Treasuries provide the best quality backing. He expressed favor for regulations that protect customers and criticized European standards for stablecoins. Additionally, Rep. French Hill stated that crypto and stablecoin legislation could gain traction in the final weeks of the congressional session, or in the next session starting in 2025.



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