Brian Armstrong, CEO of Coinbase, stated that they may remove Tether (USDT), the leading stablecoin (a virtual asset linked to the value of fiat currency), if it violates regulations.
According to the Wall Street Journal on the 21st (local time), CEO Brian Armstrong stated in an interview in Davos, “Our preferred stablecoin is USDC. It is true that Tether is currently popular in many emerging markets,” but added: “ “If US stablecoin regulations are passed and Tether does not meet US regulatory requirements, we will have to delete it.”
Previously, Coinbase removed Tether from exchange services offered to European customers because Tether did not meet the requirements of the European crypto-asset law, MiCA.
Armstrong also stated: “We would like to continue offering the Tether service because it provides easy functionality for people off the road and on the ramp. However, if Tether violates US law, we will have no choice but to take it down.”
