Tether in 2021 will continue to be actively working with global regulators and law enforcement agencies. Furthermore, Tether are going to continue enforcing rigorous KYC and AML procedures and they will be deploying state-of-the-art technologies to monitor transaction activity and the related risk profile of its token holders.
Even in 2021 Tether continues to reinstate that the tokens (USDt) are fully backed by reserves and are issued pursuant to market demand.
Paolo Ardoino tweeted a reminder to reinstate that Tether is registered and regulated under FinCEN like all of the centralized competitors. Strict KYC/AML is applied to all Tether direct users, as the other main issuers are doing. Also, stated that it is less regulated and it is just FUD. Ask yourself who benefits from spreading such misinformation?
He went ahead to give this clarification in response to a query which read like If SEC’s next target is Tether, it’s going to be very, very bad for this bull run as this market heavily relying on $USDT. $USDC, the most legally regulated stablecoin, will eventually replace $USDT.
Sydney Ifergan, the crypto expert opined: “Let us hope that the SEC will not come up with new plans to work like the coronavirus on Tether (USDT) , Ethereum or any crypto you can name. Regulators can sometimes be crazy and go overbroad.”
So 2021 might not be any new about skeptics repeatedly asking the same questions to Tether USDT like when is the audit and other regular criticisms; however, the expectation is that Tether will be the top stable coin in 2021.
The USDC and USDT competition will stay around in 2021.
Tether (USDT) Routines in 2021
Enthusiasts are waiting to watch what Tether USDT has in store for 2021 in terms of market capitalization and other improvements. May be there will be more of exchange listings. May be they will help recover lost funds from DeFi. They will ensure transparency in equitable markets. Continue organizing chain swaps.
The Solana and Tether collaboration made it possible for institutions to trade USDT at Nasdaq Speeds, therefore confirming USDt’s pivotal role in making innovation possible in the crypto ecosystem. Perhaps, 2021 can bring in more of similar collaborations.
While the crypto waters are considered risky, the utility, security and viability of digital currencies have come to the forefront during the pandemic. People are continuing to look for alternatives to antiquated banking and payment systems. They will be willing to explore stable coins and crypto if they get a clarity on what stable coins and crypto are – many are still clueless.
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