Tether Hires Former Chainalysis Chief Economist to Enhance Regulatory Understanding
Tether, a stablecoin issuer, has announced the hiring of Philip Gradwell, former chief economist at Chainalysis, to lead their economic analysis efforts. Gradwell’s role includes quantifying the Tether economy and communicating its usage to regulators and stakeholders. This move aims to provide clarity on how digital assets, specifically USDT, are utilized in the real economy.
Tether’s Commitment to Compliance and Regulatory Challenges
Despite reports of bad actors using stablecoins for illicit activities, Tether remains committed to compliance. The company’s recent hiring of Philip Gradwell highlights its dedication to regulatory standards. However, Tether is facing challenges in Europe, as its market share on centralized exchanges has decreased due to increased competition and regulatory obstacles like the MiCA framework.
