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Tether's USDT has been recognized as an Accepted Virtual Asset (AVA) by the Abu Dhabi Global Market's Financial Services Regulatory Authority, marking a significant regulatory milestone. This designation allows businesses in the ADGM to offer USDT-related services, facilitating its integration into the UAE's financial landscape. Tether's CEO emphasized the importance of this achievement for promoting financial inclusion and innovation in the region.
Tether's USDT stablecoin has been approved as an Accepted Virtual Asset by the Abu Dhabi Global Market, allowing licensed entities to offer services involving USDT under its regulatory framework. This milestone highlights the growing significance of stablecoins in modern finance and positions USDT as a key player in the UAE's digital transformation. Additionally, ADGM is collaborating with Polygon Labs to enhance token disclosure processes, promoting transparency and trust in blockchain technologies.
Tether CEO Paolo Ardoino will speak at the DC Fintech Week conference in Washington, D.C., discussing stablecoins and regulation. Tether's USDT, the largest stablecoin, holds a 71% market share of U.S. dollar-backed stablecoins, despite facing criticism over transparency and alleged criminal use. As stablecoins gain institutional importance, the U.S. lags in regulatory clarity, while Europe's Markets in Crypto-Assets regulation is set to take effect by year-end, potentially impacting Tether significantly.
Paolo Ardoino
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Tether's USDT recognized as accepted virtual asset in Abu Dhabi
00:01 11.12.2024
Tether's USDT approved for use in Abu Dhabi's financial ecosystem
18:00 10.12.2024
Tether CEO discusses stablecoins and regulation at DC Fintech Week
17:19 22.10.2024
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