Stablecoin

TRON

Read

Tether has appointed former PayPal executive Jesse Spiro as its head of government affairs to lead policy and engagement with lawmakers, regulators, and key stakeholders.
Stablecoin issuer <a href="https://crypto.news/tag/tether/" target="_blank" rel="noopener noreferrer nofollow">Tether</a> (<a href="https://crypto.news/price/tether/" target="_blank" rel="noopener noreferrer nofollow">USDT</a>) is expanding its government relations efforts with the appointment of Jesse Spiro, a former <a rel="noopener noreferrer nofollow" href="https://crypto.news/tag/paypal/">PayPal</a> executive, as its new head of government affairs. In a Sept. 13 <a href="https://tether.io/news/industry-leader-jesse-spiro-joins-tether-as-head-of-government-affairs/" target="_blank" rel="noopener noreferrer nofollow">press release</a>, the company said Spiro will oversee Tether’s policy initiatives and engagement with lawmakers, regulators, and key industry stakeholders.
Prior to Tether, Spiro led regulatory relations for PayPal’s blockchain and digital currencies business. Before that, he served as chief government affairs officer at <a href="https://crypto.news/tag/chainalysis/" target="_blank" rel="noopener noreferrer nofollow">Chainalysis</a>, a blockchain forensic firm, which in May <a href="https://crypto.news/tether-taps-chainalysis-to-track-usdt-activity-on-secondary-markets/" target="_blank" rel="noopener noreferrer nofollow">entered into a collaboration</a> with Tether to monitor USDT transactions on the <a href="https://crypto.news/tag/tron/" target="_blank" rel="noopener noreferrer nofollow">TRON</a> blockchain.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “The ever-evolving legislative and regulatory landscape will continue to require strong collaboration between the public and private sectors.” Jesse Spiro
</blockquote>
Commenting on Spiro’s appointment, Tether chief executive Paolo Ardoino said Spiro’s expertise in government relations and blockchain technology will be “invaluable as we continue to navigate the complex and rapidly changing regulatory environment.”
<h2 class="wp-block-heading" id="tether-seeks-to-reinforce-its-compliance-commitment">Tether seeks to reinforce its compliance commitment</h2>
The appointment comes amid heightened scrutiny from U.S. lawmakers regarding Tether’s stablecoin and concerns about its potential misuse by countries like Russia, Iran, and North Korea to circumvent Western sanctions.
Tether’s recent actions seem aimed at addressing these concerns, following <a href="https://crypto.news/us-senators-warn-of-countries-using-tether-to-circumvent-sanctions/" target="_blank" rel="noopener noreferrer nofollow">allegations</a> that Russian entities have been using USDT for some time now to evade sanctions and acquire components for drones and other equipment.
The development also follows the <a href="https://crypto.news/tron-teams-up-with-chainalysis-to-monitor-usdt-transactions/" target="_blank" rel="noopener noreferrer nofollow">recent formation</a> of the T3 Financial Crime Unit, a joint initiative by TRON, Tether, and TRM Labs to combat illicit activity related to USDT on the TRON blockchain. The unit aims to leverage data, technology, and collaboration with law enforcement to disrupt illegal activities.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/tether-mints-1b-in-usdt-on-tron-blockchain/"> Tether mints $1b in USDT on TRON blockchain </a>

Tether poaches PayPal exec to engage with lawmakers

Table of Contents

crypto.news

Other articles published on Sep 13, 2024

Chainlink’s co-founder Sergey Nazarov believes RWAs will surpass the crypto market

Bitcoin Price Breaks $60K – Why Is The Crypto Market Up Today?

Treasure DAO to Vote on Moving Web3 Games to ZKsync Network

Binance Futures Announces Major Crypto Listing: Details

FLOKI Completes $CAT Airdrop, But an Error Leaves Some Users Tokenless

Greenidge Sells South Carolina Site to Repay $21 Million in Debt

Join our free newsletter for daily crypto updates!