#Coinbase May Delist USDT#
Hot Topic Overview
Overview
Coinbase is considering delisting USDT, with CEO Brian Armstrong stating that Coinbase would delist the stablecoin from its US cryptocurrency trading platform if required by new US legislation. The decision stems from concerns about stablecoin regulation, with Armstrong believing upcoming US stablecoin regulations could require issuers to fully back their dollar-denominated tokens with US Treasuries, which would be a blow to offshore companies like Tether. Coinbase has already taken steps to address regulatory changes, such as delisting stablecoins that do not comply with MiCA requirements in Europe, and plans to continue offering USDT services to help customers access other crypto assets. However, Coinbase emphasizes its right to enforce its own rules to ensure a safe and reliable trading environment for users, and will vigorously defend against BiT Global's frivolous lawsuit. Some industry insiders believe that excessive regulation of Coinbase goes against the essence of cryptocurrency, and self-regulation based on customer trust is more suitable for the crypto world.
Ace Hot Topic Analysis
Analysis
Coinbase may delist USDT, its CEO Brian Armstrong said that Coinbase would delist the stablecoin USDT from its U.S. cryptocurrency trading platform if required by new U.S. legislation. He believes that future stablecoin regulations may require issuers to be fully backed by U.S. Treasury bonds, which would impact companies like Tether. Coinbase has already delisted USDT and other non-compliant stablecoins in Europe and plans to continue offering USDT services to help customers access other crypto assets. Coinbase Chief Legal Officer Paul Grewal said that they have the full right and responsibility to enforce their own rules, ensuring a safe and reliable trading environment for users. CryptoQuant CEO Ki Young Ju, however, believes that over-regulation of Coinbase goes against the nature of cryptocurrency. He believes that self-regulation based on customer trust is better in the crypto world.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Coinbase may delist USDT due to new US legislation that could require stablecoin issuers to be fully backed by US Treasury bonds and undergo regular audits.
Coinbase argues that excessive regulation of cryptocurrency exchanges goes against the nature of cryptocurrencies and emphasizes the importance of self-regulation.
Coinbase has the right to delist tokens deemed excessively risky based on its own standards and has a responsibility to provide a safe and reliable trading environment for users.
Coinbase plans to continue offering USDT services to help customers access other crypto assets and may relist USDT in the future, provided it meets regulatory requirements.