According to Cointelgraph, Brian Armstrong, CEO of Coinbase, believes that the upcoming US stable currency regulations may require issuers to fully support their US dollar denominated tokens with US treasury bond - a move that may make it more difficult for offshore companies to serve the US market. During an interview at the World Economic Forum in Davos, Switzerland, Armstrong stated that he expects stablecoin regulations to become more clear in the near future. Two of these requirements may be: all stable currency operators in the United States must be fully supported by US treasury bond and complete regular audits. He specifically pointed out that Tether, the stablecoin issuer, may be one of the companies most impacted by the new regulations, and if Tether fails to comply with any new US laws, Coinbase will delist USDT.
At the same time, Coinbase plans to continue providing USDT services to help customers acquire other cryptocurrency assets. Armstrong said, "There are many people holding Tether, and if we want to help them transition to a system we consider safer, we want to provide them with an exit channel." As a result, Coinbase has delisted USDt and other non compliant stablecoins from Europe in preparation for the implementation of the Crypto Asset Market Regulation (MiCA). However, a Coinbase spokesperson stated that if stablecoins "meet MiCA compliance requirements in the future," they may be relisted.
