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Home»ALTCOIN NEWS»Tether has hit a major regulatory milestone with USDT on three chains being deemed an ‘accepted virtual asset’ in Abu Dhabi.
ALTCOIN NEWS

Tether has hit a major regulatory milestone with USDT on three chains being deemed an ‘accepted virtual asset’ in Abu Dhabi.

By Crypto FlexsDecember 11, 20242 Mins Read
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Tether has hit a major regulatory milestone with USDT on three chains being deemed an ‘accepted virtual asset’ in Abu Dhabi.
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The company with the largest stablecoin by market capitalization announced the achievement of an important regulatory milestone.

In a new announcement, Tether revealed that USDT has been approved by the Abu Dhabi Global Markets (ADGM) Financial Services Regulatory Authority (FSRA) to become an Authorized Virtual Asset (AVA).

Tether CEO Paolo Ardoino commented on this achievement:

“This milestone highlights Tether’s commitment to fostering global financial inclusion and innovation. By bringing USDT to the forefront of ADGM’s regulated virtual asset framework, we are not only validating the importance of stablecoins as critical tools for modern finance, but also opening new doors for collaboration and growth across the Middle East.

The UAE’s forward-thinking approach to virtual asset regulation sets a global benchmark, and we are proud that USDT can play a pivotal role in driving the region’s economic development and digital transformation. “This approval highlights Tether’s commitment to building bridges between traditional and decentralized economies while ensuring security, trust, and efficiency for users around the world.”

Once USDT is designated as an AVA in the region, ADGM companies can provide USDT-related services such as trading and storage. According to the announcement, this approval will enable USDT to be “seamlessly integrated” into the UAE’s financial landscape and future.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may incur. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

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