Such an audit would probably be required for attaching and its USDT for the upcoming stablecins regulations. In fact, this should undoubtedly be an absolute condition for future cooperation with the American government.
Will Tether finally have his audit?
Bonds, The USDT transmitter, the larger stable in the world, could soon create closer cooperation with the American government. During the speech this weekPresident Trump mentioned his vision of the role of Stablecoins in the promotion of the dollar domination.
However, in order to perform such a partnership, Tether will probably have to accept a third -party audit.
According to the new Reuters report, Tether is in the discussion with the Big Four accounting company to perform this audit. However, the article does not specify which cabinets between PWC, EY, Deloitte and KPMG would be affected by these discussions.
“That’s our absolute priority.” Now we live in a landscape where it is really possible. If the United States President says he is the highest priority for the United States, Big Four will have to listen to the Big Four, ”Ardoino said.
However, the news has aroused many skepticism from the community. Despite regular internal reports, the new Financial Director and the years of promise, Tether has never been submitted to a complete audit by a third party. This even created some fatigue by the crypt community.
If some speculated on the acceptance of LED audit only on reserves, Big Four members would probably only accept a complete audit. It seems that Ardoin’s comment on Trump’s “absolute priority” reveals from this angle.
In fact, because why these audit firms would need such motivation for an action that seems rather trivial regarding their activities. We remind you that Tether has made a profit of $ 13 billion last year and has a $ 143 billion market.
Stablecoin regulation could delay an agreement
A third -party audit is essential for the case due to potential American regulations coming to stablecoins. Under the Act on the Act on the Brilliant Act, the Stablecoins transmitters will have to undergo independent audits and hold a large part of their reserves in assets such as the treasury.
Thus, the Stablecoins transmitters will not be able to operate on the US market without having an audit of their assets in reserve and holding US treasury accounts.
Yesterday, the company revealed that last year it bought $ 33 billion in the cash register. However, Ardoino said that 99 % of them hold Cantor Fitzgerald, a company with long -term ties with Tether.
The CEO of the company was Howard Lutnick until last January, when he resigned to become an American secretary of trade. These political ties aroused a certain indignation by the part of certain outer parts.
“Tether has at least the attacked reputation.” It should be forbidden to buy US treasury accounts until they personally receive a number of US regulatory audits. In addition, this kind of company should return to the creation of a company. We take a huge and unnecessary risk by leaving a company working without an audit in our financial system, ”said Jason Calcanis.
In other words, Tether skeptics are still not convinced by what Stablecoins currently offers in terms of agreement. Especially because if stablecoins are more included in the US financial system, it should play a big role.
Moreover, the complete audit of the company and its reservations as needed should be the only option for the presence in the United States.
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