Category: tether

Lawmakers Clash Over Regulation of Stablecoins

May 18, 2023
ArchivedBusiness & MarketscftccryptocryptocurrencyMarketsMaxine WatersNewsStablecoinstetherUSUS News
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House lawmakers took part in a contentious debate over how stablecoins should be regulated at a hearing held by the Financial Services Committee’s digital assets panel—where there were also some hopeful signs from both sides. At the heart of the debate on May 16 was the level of involvement of state regulators and the Federal…

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Why Tether and Bitfinex Were Hit With CFTC Fines Totaling $42.5 Million

October 16, 2021
BitfinexBusiness & EconomyCompaniestether
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The U.S. Commodity Futures Trading Commission (CFTC) hit crypto exchange Bitfinex and Tether—the firm behind the stablecoin Tether— for violations of the Commodity Exchange Act, or CEA, and of a prior CFTC order. What Happened According to a Friday CFTC press release, the regulator found that Tether backed its stablecoin only for 27.6 percent of…

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