With Trump in power, foreign crypto companies in the USA are in line

Last month, Paolo Ardoinino, the managing director of the Cryptocurrency Company Tether, joined Business Managers and US legislators for private lunch in Willard, a luxury hotel near the White House.

For years, Tether had the allegations that it had lied through his finances and admitted that crime thrives on his platform. But at Willard, Mr. Ardoinino and other crypto leader of Senator Bill Hagerty, a Republican Tennessee in the Senate banking committee, who visited lunch, welcomed and took part in a group discussion about digital currency regulations and national security, so four people with knowledge of the event.

The episode was a sign of the changing landscape for crypto companies when President Trump accepted the industry. Once a difficult to understand Overseas operator with little public footprint in the USA, Tether uses the shift to create a presence in Washington.

Since Mr. Trump's inauguration, Tether has presented the redesign of crypto regulations because she considered an operation in the United States. The main product of the company is a cryptocurrency known as a stablecoin and is supposed to maintain a price of $ 1. Tether urges the congress to influence a Senate Act introduced by Mr. Hagery this year, which describes rules for stable coins. And it started a public campaign in which advertisements were seen in an insider publication in Washington, which trumpet their cooperation with the US criminal investigation authorities.

Tether has been suspected for years. His stable coin has proven to be a popular tool for criminals. In 2021 it paid $ 18.5 million to enclose a fraud examination by the New York Attorney General.

But within a few days after taking office, Mr. Trump, who began a crypto business with his sons last year, finished an action by the bidges administration against digital assets. Crypto companies that had once avoided the country and feared that regulatory sanctions are now enjoying amazing access to the congress and the White House.