如果美國新規要求嚴格遵守，Coinbase 暗示將下架 Tether 的 USDT 穩定幣

美國最大的加密貨幣交易所之一 Coinbase 暗示，如果新規則出台，它可能會將 Tether 的 USDT 穩定幣從其平台上撤下。

One of the largest cryptocurrency exchanges in the United States, Coinbase, may have to remove Tether’s USDT stablecoin from its platform if new rules in the country demand stricter adherence.

如果美國的新規則要求更嚴格的遵守，美國最大的加密貨幣交易所之一 Coinbase 可能不得不從其平台上刪除 Tether 的 USDT 穩定幣。

Coinbase CEO Brian Armstrong recently touched upon the potential implications of new stablecoin regulations in the US under President Donald Trump. According to Armstrong, upcoming legislation could require stablecoin issuers to hold 100% of their reserves in Treasury bonds and conduct regular audits for transparency, as reported by the Wall Street Journal.

Coinbase 執行長 Brian Armstrong 最近談到了唐納德川普總統領導下的美國新穩定幣法規的潛在影響。根據《華爾街日報》報道，阿姆斯壯表示，即將出台的立法可能要求穩定幣發行人將其儲備的 100% 持有為國債，並定期進行透明度審計。

Armstrong suggested that Coinbase may have to delist the $138 billion stablecoin if such regulatory measures become mandatory. Notably, Coinbase had already delisted USDT from its European platform due to noncompliance with the EU’s MiCA framework.

阿姆斯壯表示，如果此類監管措施成為強制性措施，Coinbase 可能不得不下架價值 1,380 億美元的穩定幣。值得注意的是，由於 USDT 不符合歐盟 MiCA 框架，Coinbase 已將 USDT 從其歐洲平台下架。

Tether remains the leading stablecoin in the market, surpassing competitors such as Circle’s USDC and Ripple’s newly introduced Ripple USD (RLUSD). Despite its dominance, Tether has faced scrutiny over its reserve practices and financial disclosures.

Tether 仍然是市場上領先的穩定幣，超過了 Circle 的 USDC 和 Ripple 新推出的 Ripple USD (RLUSD) 等競爭對手。儘管佔據主導地位，Tether 仍面臨對其儲備實踐和財務揭露的審查。

Tether's Reserves and Criticism

Tether 的儲備與批評

Tether claims to hold 80% of its reserves in U.S. Treasury bills, which are verified through financial attestations by BDO Italia, an independent accounting firm. These quarterly updates were introduced following the 2022 market crash that highlighted insolvencies at major firms such as FTX and Three Arrows Capital.

Tether 聲稱其 80% 的儲備是美國國庫券，並透過獨立會計師事務所 BDO Italia 的財務證明進行核實。這些季度更新是在 2022 年市場崩盤之後推出的，市場崩盤凸顯了 FTX 和三箭資本等主要公司的破產。

While these attestations provide some reassurance, critics argue that they fall short of complete audits, raising concerns over Tether’s financial stability. It remains to be seen whether Tether will comply with any upcoming U.S. regulations that may impose stricter reporting requirements.

雖然這些證明提供了一些保證，但批評者認為它們沒有完整的審計，引發了人們對 Tether 財務穩定性的擔憂。 Tether 是否會遵守即將出台的任何可能施加更嚴格報告要求的美國法規還有待觀察。

Emerging markets outside the United States and Europe are a key focus for Tether. Notably, the company will be setting up its world headquarters in El Salvador, which became the first country to adopt Bitcoin as legal tender. This strategic move underscores Tether’s pursuit of markets with favorable cryptocurrency regulations.

美國和歐洲以外的新興市場是 Tether 的重點關注點。值得注意的是，該公司將在薩爾瓦多設立全球總部，該國成為第一個採用比特幣作為法定貨幣的國家。這項策略舉措凸顯了 Tether 對加密貨幣監管有利的市場的追求。

Coinbase's stance highlights the increasing pressure on stablecoin issuers to adapt to the evolving regulatory landscape. As governments roll out stricter regulations, the stablecoin ecosystem is poised for significant shifts.

Coinbase 的立場凸顯了穩定幣發行人適應不斷變化的監管環境所面臨的越來越大的壓力。隨著政府推出更嚴格的法規，穩定幣生態系統即將發生重大轉變。