Coinbase 執行長 Brian Armstrong 表示，如果新立法強制，該交易所將下架 Tether 的 USDT 穩定幣

目前一些修改美國加密立法的嘗試將會對該公司產生影響，但尚未取得進展。

Coinbase would comply with any new legislation that requires the exchange to delist Tether’s USDT stablecoin, according to CEO Brian Armstrong.

Coinbase 執行長 Brian Armstrong 表示，Coinbase 將遵守任何要求交易所下架 Tether 的 USDT 穩定幣的新法規。

Several ongoing attempts to revamp US crypto legislation would affect the company, but none have advanced.

正在進行的幾次修改美國加密立法的嘗試都會影響該公司，但都沒有進展。

So far, Tether has faced minor hurdles from the EU’s MiCA legislation, but a similar effort in the US could drastically impact its operations.

到目前為止，Tether 面臨歐盟 MiCA 立法的輕微障礙，但美國的類似努力可能會嚴重影響其運作。

US Legislative Changes Could Impact Tether

美國立法變化可能影響 Tether

Coinbase CEO Brian Armstrong has been outspoken about the previous administration’s crypto crackdown. The exchange faced several challenges from the SEC under Gensler’s leadership.

Coinbase 執行長 Brian Armstrong 一直直言不諱地談論前政府的加密貨幣打擊行動。在 Gensler 的領導下，該交易所面臨 SEC 的多項挑戰。

While a US Court sided with his company in the SEC legal battle, the CFTC later issued a subpoena against it. Additionally, Armstrong accused the FDIC of withholding key documents from his exchange.

雖然美國法院在美國證券交易委員會的法律訴訟中支持了他的公司，但美國商品期貨交易委員會隨後對其發出了傳票。此外，阿姆斯壯還指責 FDIC 扣留了他交易所的關鍵文件。

However, the exchange has welcomed the positive regulatory changes under the new administration. Armstrong now claims that Coinbase would indeed delist Tether’s USDT if compelled.

然而，該交易所對新政府領導下的積極監管變化表示歡迎。阿姆斯壯現在聲稱，如果有強迫的話，Coinbase 確實會下架 Tether 的 USDT。

“There are a lot of people with [USDT], and we want to give them an off-ramp, if we want to help them transition to a system that we think is more secure,” said Armstrong.

「有很多人擁有 [USDT]，如果我們想幫助他們過渡到我們認為更安全的系統，我們希望給他們一個出口，」阿姆斯壯說。

Armstrong further added that US lawmakers may force Tether and other stablecoin issuers to fully back their reserves in US Treasury bonds and pass regular audits. Tether currently holds a majority of its reserves in Treasury bonds, but it also maintains reserves in commodities such as Bitcoin or gold.

阿姆斯壯進一步補充說，美國立法者可能會迫使 Tether 和其他穩定幣發行人全額支持其美國國債儲備並通過定期審計。 Tether 目前持有大部分國債儲備，但也持有比特幣或黃金等大宗商品儲備。

This particular issue also caused significant challenges for USDT in the EU under the new MiCA regulation.

這個特殊問題也為歐盟新 MiCA 法規下的 USDT 帶來了重大挑戰。

In other words, Armstrong predicts that a similar issue may occur with Tether in the future. In such an event, he would comply with any delisting requirement, just as EU exchanges did.

換句話說，阿姆斯壯預測未來 Tether 可能會出現類似的問題。在這種情況下，他將遵守任何退市要求，就像歐盟交易所所做的那樣。

Moreover, Coinbase is a major shareholder in Circle, a smaller stablecoin that directly challenged Tether’s European market dominance.

此外，Coinbase 是 Circle 的主要股東，Circle 是一種規模較小的穩定幣，直接挑戰了 Tether 的歐洲市場主導地位。

“The stablecoin scene’s now worth $218.7 billion, and this move could change the game, especially with the US pushing to keep its dollar on top. This could be the beginning of some major shakeups for Tether and its competitors,” Mario Nawfal later posted on X (formerly Twitter).

「穩定幣目前價值 2,187 億美元，這項舉措可能會改變遊戲規則，尤其是在美國努力保持美元領先地位的情況下。這可能是 Tether 及其競爭對手一些重大變革的開始，」Mario Nawfal 後來在 X（以前的 Twitter）上發文說。

In other words, while the US is heading towards a new pro-crypto regulatory paradigm, enforcement actions are still possible, especially for non-US crypto entities.

換句話說，雖然美國正在走向新的支持加密貨幣的監管模式，但執法行動仍然是可能的，特別是對於非美國加密貨幣實體。

Armstrong noted that the Senate introduced two bills that would impose these restrictions on Tether, but neither of them have advanced yet. Even though Tether recently moved its headquarters to El Salvador, the company still needs the US market.

阿姆斯壯指出，參議院提出了兩項將對 Tether 施加這些限制的法案，但兩項法案尚未取得進展。儘管Tether最近將總部遷至薩爾瓦多，但該公司仍需要美國市場。

Ultimately, it’s anyone’s guess as to how likely these regulations are to pass. The US crypto space is crying out for a comprehensive new regulatory framework, which would almost certainly impact Tether.

最終，人們都在猜測這些法規通過的可能性有多高。美國加密貨幣領域迫切需要一個全面的新監管框架，幾乎肯定會影響 Tether。

Armstrong wanted to signal that Coinbase is ready to cooperate with this framework, even if it ends up sidelining Tether.

阿姆斯壯想要表明 Coinbase 已經準備好與這個框架合作，即使它最終會讓 Tether 靠邊站。