Coinbase Would Delist Stablecoin Tether if Required by Law, CEO Says -- WSJ
Coinbase Global would remove stablecoin tether from its U.S. cryptocurrency trading platform if required by new legislation, CEO Brian Armstrong said in an interview at the Journal House in Davos, Switzerland.Tether, which is pegged 1:1 to the dollar, is the world's most traded cryptocurrency, but authorities are scrutinizing its use by a plethora of crime groups, sanctions evaders and terrorist organizations to move money around the globe unhindered.If tether's issuer, also called Tether, couldn't comply with any new U.S. laws, Coinbase would delist it, Armstrong said. He said Coinbase would like to continue to offer tether to give customers a way to shift their holdings into other cryptocurrencies.Coinbase delisted tether for its European customers last month in response to new EU regulations for digital currencies that force stablecoin issuers to hold a portion of their reserves in cash at banks. Tether has said it opposes this new requirement because it could create more risk.Tethe