Coinbase CEO suggests USDT delisting if Tether doesn't comply with U.S. rules: WSJ

Coinbase CEO Brian Armstrong said in a Wall Street Journal interview at Davos that the American cryptocurrency exchange would consider delisting the USDT stablecoin, which is pegged to the U.S. dollar, if its issuer, Tether, fails to comply with upcoming U.S. regulations. He mentioned that Coinbase aims to provide USDT holders with an option to convert their holdings into fiat currencies for better security because many customers own USDT. Armstrong expects future U.S. laws to mandate that stablecoin issuers like Tether keep all their reserves in U.S. Treasury bonds and regularly undergo audits. Although Tether mainly uses Treasurys to back its currency, it also includes assets like gold, Bitcoin and loans. Despite being registered in the British Virgin Islands, Tether has not published fully audited financial statements, according to WSJ.