[출처: 코인마켓캡]
Cryptocurrency media Decrypt released on February 25 (local time) the view that it is difficult to say that the tether issue has yet to be resolved through interviews with local lawmakers in the United States. Lawyers say that states other than New York can make the same demands from Tether, and that New York still has the right to oversee them. In 2019, the New York Prosecutors’ Office indicted Tether and its subsidiary Bitfinex for loss of customer assets and embezzlement.
#‘Tether issue’ considered as a potential risk in the cryptocurrency market
In the cryptocurrency market, the tether issue is one of the potential negatives that investors typically pick. Since before, there has been a controversy over transparency about USDT, a stablecoin issued by Tether. If the suspicion surrounding Tether becomes true, then the credibility in the USDT, which has been widely used in the market, can collapse, causing great confusion. Tether is a cryptocurrency that is ranked third in the market cap as of February 25th.
Then, in April 2019, NYAG (New York Prosecutors’ Office) prosecuted Tether on charges of concealing a loss of $850 million in capital, and it became a hot topic in the institutional world. The NYAG survey found that Tether did not strictly adhere to the 1:1 pegging principle of the dollar and USDT. In this process, only the results of self-audit were disclosed, and external audits were not disclosed, raising controversy.
#“New York State supervisory power remains, and other states can take the same gesture.”
In the end, the two sides ended the legal battle with a fine of $18.5 million on the 23rd. Also, Tether and Bitfinex are no longer available in New York. It also included an obligation to submit a report on a quarterly basis for two years.
Shortly after the related press release was released, various media mentioned that the tether issue had been resolved. However, as a result of interviews by the cryptocurrency media Decrypt with local legalists in the United States, it was confirmed that the tether issue has not yet been resolved.
“It seems that we will have to look at how Tether adheres to the requirements imposed,” said Mark Boyron, attorney at DeFi project dydx, who interviewed. It is possible.” According to local industry officials, there were many requirements for NYAG’s oversight during the agreement. On the surface, it appears to have ended with only fines, but it is an agreement with many follow-up measures.
Olta Andoni, a professor and attorney at Cant College in Chicago, said, “As USDT is exchanged for bitcoin outside the US and transferred to US exchanges, there is room for the US Department of Justice to intervene in the tether issue.” And indicated that the central agency could move. “There is room for action in Texas and California, where other states are very populated,” said Boiron. However, “Texas has prepared guidelines for businesses to operate without a license from Tether in the state. In the case of California, it has never made any special gestures toward crypto-related companies.”
Reporter Park Sanghyuk [email protected]
