Coinbase執行長：如果不遵守美國新規則，TETHER可能會被踢出局

Coinbase 的 Brian Armstrong 剛剛投下一顆炸彈——如果美國穩定幣法規要求財政部全力支持，Tether 將不得不遵守，否則就會被踢出局。

Coinbase may be forced to delist Tether’s USDT stablecoin from its platform if upcoming U.S. legislation requires stablecoin issuers to maintain 100% of their reserves in U.S. Treasury bonds and fully cooperate with regular audits. This revelation was made by Coinbase CEO Brian Armstrong during a discussion at the World Economic Forum in Davos.

如果即將出台的美國立法要求穩定幣發行人將其儲備金 100% 保留在美國國債中，並充分配合定期審計，那麼 Coinbase 可能會被迫從其平台上下架 Tether 的 USDT 穩定幣。這項消息是 Coinbase 執行長 Brian Armstrong 在達沃斯世界經濟論壇的一次討論中透露的。

The move would be a significant blow to Tether, which is currently the third-largest cryptocurrency by market capitalization and plays a crucial role in the cryptocurrency ecosystem. However, Coinbase’s decision would be driven by its commitment to regulatory compliance, a stance that has already led the exchange to delist USDT in Europe due to the EU’s MiCA legislation.

此舉將對 Tether 造成重大打擊，Tether 目前是市值第三大加密貨幣，在加密貨幣生態系統中發揮至關重要的作用。然而，Coinbase 的決定將取決於其對監管合規性的承諾，這一立場已經導致該交易所因歐盟 MiCA 立法而在歐洲下架 USDT。

Coinbase CEO: Tether May Be Delisted If It Doesn’t Follow New US Stablecoin Rules

Coinbase執行長：如果不遵守美國穩定幣新規則，Tether可能會被摘牌

Coinbase CEO Brian Armstrong just dropped a bomb — if US stablecoin regs demand full Treasury backing, Tether will have to comply or get booted.

Coinbase 執行長 Brian Armstrong 剛剛投下一顆炸彈——如果美國穩定幣法規要求財政部全力支持，Tether 將不得不遵守，否則就會被踢出局。

He said they’d delist USDt if it doesn’t make the cut.

他表示，如果 USDt 未能晉級，他們將下架。

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Coinbase, Stablecoin Regulations, and Tether’s Position

Coinbase、穩定幣法規和 Tether 的立場

According to Armstrong, the new stablecoin regulations being considered by U.S. lawmakers would require issuers to maintain 100% of their reserves in U.S. Treasury bonds and cooperate fully with regular audits. This move would force Coinbase to remove Tether from its platform as it must comply with the new regulations, similar to the actions taken under the EU’s MiCA legislation.

阿姆斯壯表示，美國立法者正在考慮的新穩定幣法規將要求發行人將其儲備的 100% 保留在美國國債中，並充分配合定期審計。此舉將迫使 Coinbase 將 Tether 從其平台上移除，因為它必須遵守新法規，類似於根據歐盟 MiCA 立法採取的行動。

With a market cap of $138 billion, Tether dominates the stablecoin market, outpacing competitors like Circle’s USDC. The company publishes quarterly attestations to demonstrate the composition of its reserves, which are primarily backed by U.S. Treasury bonds. However, critics maintain that these attestations fall short of complete audits, sparking concerns.

Tether 的市值為 1380 億美元，在穩定幣市場佔據主導地位，超過了 Circle 的 USDC 等競爭對手。該公司發布季度證明以證明其儲備的組成，這些儲備主要由美國國債支持。然而，批評者認為這些證明沒有經過完整的審計，引發了擔憂。

The EU’s MiCA regulations have posed a significant challenge to Tether, prompting Coinbase to ultimately delist USDT in Europe. However, Armstrong’s comments suggest that U.S. lawmakers may adopt similar regulations, which would essentially demand that stablecoin issuers like Tether meet more stringent financial reporting standards. Coinbase would follow these rules and delist USDT if necessary.

歐盟的 MiCA 法規對 Tether 構成了重大挑戰，促使 Coinbase 最終在歐洲下架 USDT。然而，阿姆斯壯的評論表明，美國立法者可能會採取類似的法規，這實質上會要求 Tether 等穩定幣發行人滿足更嚴格的財務報告標準。 Coinbase 將遵循這些規則，並在必要時下架 USDT。

Despite these obstacles, Tether’s operations are largely concentrated in emerging markets outside the U.S. and Europe. Additionally, Tether holds reserves in other assets, including Bitcoin and gold, which could further complicate the company’s ability to meet the proposed regulatory requirements if they expand. Armstrong highlighted that Coinbase’s position on regulatory compliance remains unchanged.

儘管存在這些障礙，Tether 的業務主要集中在美國和歐洲以外的新興市場。此外，Tether 持有其他資產的儲備，包括比特幣和黃金，如果監管要求擴大，這可能會使該公司滿足擬議監管要求的能力更加複雜。阿姆斯壯強調，Coinbase 在監管合規方面的立場保持不變。

Tether’s legal troubles in the U.S. continue as two proposed bills in the country aim to regulate stablecoins, with one bill seeking to exclude offshore and unregulated issuers like Tether. While these bills have stalled, Armstrong anticipates that future legislation will tighten the net, demanding greater compliance. Coinbase is prepared to cooperate by potentially delisting non-compliant stablecoins, as demonstrated in Europe.

Tether 在美國的法律麻煩仍在繼續，該國擬議的兩項法案旨在監管穩定幣，其中一項法案試圖將 Tether 等離岸和不受監管的發行人排除在外。儘管這些法案已陷入停滯，但阿姆斯壯預計未來的立法將收緊網絡，要求更多的合規性。正如歐洲所證明的那樣，Coinbase 準備透過可能下架不合規穩定幣的方式進行合作。

After acquiring a Digital Asset Service Provider (DASP) license, Tether relocated its headquarters to El Salvador to capitalize on the nation’s crypto-friendly regulatory environment and avoid the pressures faced in other jurisdictions. However, Tether’s legal woes persist as the company is being investigated by U.S. authorities for potential violations of sanctions and anti-money-laundering regulations.

在獲得數位資產服務提供者（DASP）許可證後，Tether 將總部遷至薩爾瓦多，以利用該國對加密貨幣友善的監管環境，並避免在其他司法管轄區面臨的壓力。然而，隨著美國當局因可能違反制裁和反洗錢法規而對 Tether 進行調查，該公司的法律困境仍然存在。

Kraken's Layer 2 Stablecoin (USDT0) and Cross-Chain Swaps

Kraken 的第 2 層穩定幣 (USDT0) 和跨鏈互換

In other developments within the stablecoin ecosystem, Kraken has introduced USDT0 on its Layer 2 blockchain, Ink. This integration aims to facilitate efficient cross-chain asset swaps by utilizing the Omnichain Fungible Token (OFT) standard for seamless exchanges.

在穩定幣生態系統的其他發展中，Kraken 在其第 2 層區塊鏈 Ink 上引入了 USDT0。此整合旨在透過利用 Omnichain Fungible Token (OFT) 標準實現無縫交換，促進高效的跨鏈資產交換。

Despite Tether's attempts to adapt and innovate, its challenges in meeting regulatory standards continue.

儘管 Tether 嘗試適應和創新，但在滿足監管標準方面的挑戰仍然存在。