The government should be close to the broadcaster of the world's largest stable, says Sepúlveda. «Tether is looking for a way of having a more formal facade, so as not to look so opaque,» he said. El Salvador is going to seek financing through Tether, the world's largest stablcoin company in the world, USD Tether (USDT), according to local economist Teo Sepúlveda. In statements to the local press, the specialist said that the Nayib Bukele government should have the broadcaster of the largest market in the market near. «Tether is looking for a way of having a more formal facade, so as not to look so opaque,» he said. Sepúlveda also pointed out that, due to the regulation of El Salvador, «Tether is what they want it to be.» Thus, he said that «very possibly, the Government of El Salvador will look for some kind of financing through Tether, regardless of whether people inside the country take him little or much.» At the beginning of 2024, Tether was indicated in the United States Congress. In an audience, Transparency and tether reserves were questionedhighlighting the lack of independent audits and the possibility of systemic risks in the cryptocurrency market. These concerns arose after Tether resolved a lawsuit with the United States Commodities Trade Commerce Commission (CFTC) for false statements about their reservations. According to Sepúlveda, the Nayib Bukele government has always sought alternatives to markets international to finance. For him, «it is convenient for the administration of Bukele to be close to the issuing company of the largest stablecoin based on the US dollar.»
The specialist said that the Nayib Bukele government should have Tether nearby. Source: Texas Border Business.
A marketing strategy
Sepúlveda also assured that Tether's decision to settle in El Salvador as the main headquarters is rather a «marketing strategy», which seeks to cushion in some way the brand that leaves the output of USDT of the European Union, where the stablecoin does not meet the requirements to operate established in the regulation on cryptoactive markets (Mica). It is expected that, since March 31, USDT will release in the EU. In contrast, Circle, station of the USD Coin (USDC) and its main competitor, yes you have obtained permits And it has even been integrated into the eurozone payment system, as reported by cryptootics. In that context, Tether reported last month that he would transfer his headquarters to El Salvador, after having obtained the necessary permits to operate. It is planned that the company erections a building in San Salvador, the capital of the country, which could encourage the labor market. Paolo Ardoino, the Tether CEO, said this week that It will be a skyscraper of up to 70 floors and will be exempt from taxes.
Thus, with his transfer to El Salvador, which was the first country in the world to give Bitcoin the legal course, Tether raises a vision of renewal. As the economist Sepúlveda sees it, the entity is looking for a way to have «a more formal facade, so as not to look so opaque.» «According to what we see in the EU, I had not been able to do it, but found an ally in the Government of El Salvador,» he said. This vision is confirmed by Ardoino himself, who points out that El Salvador is becoming the «Fintech Central America and South America.»