USDT issuer Tether is considering expanding its US operations amid hopes for a friendlier crypto policy in the country, the company’s head Paolo Ardoino said in an interview with Bloomberg Television.
“I do not rule out that Tether could move somewhat closer to having a presence in the US, but we are also doing this cautiously. […] At this point we need clarity and guidance in regulation. We need to see what the laws in the US will look like, and then we will decide,” he said.
According to Ardoino, the firm also intends to step up efforts to advance its interests in US politics. In September 2024, Tether appointed Jesse Spiro from PayPal as head of government affairs. In recent years, the company has been among the leaders in US lobbying spend.
The Tether chief added that the firm may beat its 2024 profit target, helped in part by bitcoin’s rally.
Officially, the USDT issuer has not served customers in the US since 2018. In 2021, the company paid US authorities $41 million as part of a settlement of a complaint over “false statements” regarding the stablecoin’s reserves.
