Tether CEO: Elected US President Must Support Crypto Industry

Tether CEO Paolo Ardoino hopes that the US president-elect can support the development of the crypto industry. (Photo; Doc. CryptoTendencia)

JAKARTA - The closer the United States presidential election, which will take place on November 5, has received the spotlight from crypto figures. The founder and CEO of the stablecoin company Tether (USDT), Paolo Ardoino, emphasized the importance of pro-crypto US leaders.

According to Ardoino, although the US has always been a global leader in many fields of technology, Uncle Sam's country is currently lagging behind in the crypto sector. Ardoino expressed concern about the attitude of the US which he considered lowing the ball' in crypto development.

"So far, the US has always been at the forefront of technological innovation in various fields, but for the first time I see they are left behind in the crypto sector," Ardoino was quoted as saying by Daily Hodl. One aspect that Ardoino highlighted is crypto regulation. He hopes that the elected US president will pay attention to the need for reasonable and directed regulations for this industry.

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According to him, proper regulations will not only protect users, but also allow crypto technology and stablecoins to develop more widely in helping hundreds of millions of people in developing countries who lack financial access that is equivalent to developed countries.

Ardoino stressed that US regulation has a major influence on global policy. "The United States plays an important role in this dialogue. Every regulator in the world looks towards the US for example regulations. I hope these regulations can be realized soon," explained Ardoino.

The very significant US influence in the crypto world has left many observers and industry players waiting for clear legal certainty from this superpower. Good US regulations are believed to pave the way for global crypto adoption, provide stability for investors, and accelerate the transformation of the blockchain technology-based financial sector.