系绳将重点转移到美国以外的市场

Tether是最大的Stablecoin发行人，将其主要重点转移到美国以外的市场。这一举动是由于立法努力越来越多地监管美国境内的稳定菌。

As the U.S. moves closer to new legislation for stablecoins, the largest stablecoin issuer, Tether, is shifting its main focus to markets outside the States.

随着美国越来越接近稳定的新立法，最大的Stablecoin发行人Tether将其主要重点转移到了各州以外的市场。

The company is adapting to emerging laws and highlighting its international expansion.

该公司正在适应新兴的法律并强调其国际扩张。

The U.S. Senate recently advanced the bill, called the Gummy Act—an acronym for Good Utilization of MedCreds and Nanotechnology in the Union State—to Congress. Meanwhile, the House Financial Services Committee has approved its bill, although full House approval is still pending. Both bills aim to ensure that stablecoins are fully backed by cash and safe assets, tightening rules for issuers.

美国参议院最近提出了该法案，称为《吉米法》（Gumummy Act），这是国会良好利用梅德里克和纳米技术的首字母缩写。同时，众议院金融服务委员会已批准其法案，尽管全部批准仍在审理中。这两项法案旨在确保稳定币完全得到现金和安全资产的支持，从而收紧了发行人的规则。

Both bills would require issuers to maintain tokens backed by cash, short-term U.S. Treasury obligations, and other safe assets. Issuers must also comply with the Bank Secrecy Act and anti-money laundering rules. Both bills include provisions to recognize foreign stablecoin issuers if their regulations meet comparable standards.

这两项法案都将要求发行人维护以现金，美国国库短期义务和其他安全资产支持的代币。发行人还必须遵守《银行保密法》和反洗钱规则。这两项法案均包括承认外国稳定发行人的规定，如果其法规符合可比的标准。

Of the $125 billion in stablecoins, more than 60% is held by Tether, which has 420 million users. The company’s presence is greater in emerging markets, contrasting with its limited service to American customers.

在1.25亿美元的Stablecoins中，有超过60％的Tether拥有4.2亿用户。该公司在新兴市场中的存在更大，与对美国客户的服务有限形成鲜明对比。

Outside of the U.S., Tether’s user base is largely concentrated in Southeast Asia, spanning Vietnam, Indonesia, the Philippines, Thailand, and Malaysia. In these regions, Tether’s services are accessible through several platforms, catering to a diverse customer base.

在美国以外，系绳的用户群主要集中在东南亚，跨越越南，印度尼西亚，菲律宾，泰国和马来西亚。在这些地区，可以通过多个平台访问系绳的服务，以迎合多样化的客户群。

Despite not offering services to U.S. customers, Tether is engaging with U.S. regulators to ensure compliance with new legislation. This involvement follows a period of scrutiny from U.S. regulators, who had previously raised concerns over the company’s operations and financial transparency.

尽管没有向美国客户提供服务，但Tether仍与美国监管机构互动，以确保遵守新立法。这项参与是在美国监管机构进行了一段审查之后，他们以前对公司的运营和财务透明度提出了担忧。

In 2021, Tether settled with U.S. commodities futures regulator the Commodity Futures Trading Commission (CFTC) for failing to maintain its purported policy of maintaining 1:1 backing for its stablecoin. As part of the settlement, Tether paid a $50 million penalty and agreed to cooperate with the CFTC in future matters.

2021年，系绳与美国商品期货监管机构定居，商品期货贸易委员会（CFTC）未能维持其据称维持其稳定股份的1：1支持的政策。作为和解的一部分，Tether支付了5000万美元的罚款，并同意将来与CFTC合作。

Earlier this year, the CFTC also reached a $100 million settlement with cryptocurrency exchange Bitmex for operating in the U.S. without registration and failing to comply with anti-money laundering rules.

今年早些时候，CFTC还达成了1亿美元的和解协议，该和加密货币交易所Bitmex在美国运营而没有注册，并且不遵守反洗钱规则。

In addition to these settlements, the U.S. Securities and Exchange Commission (SEC) has also been actively pursuing cases against cryptocurrency companies. Last week, the SEC filed a lawsuit against cryptocurrency exchange Shapeshift for failing to register with the agency and offering U.S. customers unregistered securities.

除这些和解外，美国证券交易委员会（SEC）还积极提起针对加密货币公司的案件。上周，美国证券交易委员会（SEC）针对加密货币交易所变形的诉讼未能向代理机构注册并为我们提供未注册的证券提供注册。

Earlier this year, the SEC sued former FTX CEO Sam Bankman-Fried for mishandling customer funds and illegally raising $1.8 billion from investors in a two-year period.

今年早些时候，SEC起诉前FTX首席执行官Sam Bankman Fried，以谋取不当客户资金，并在两年期间非法从投资者那里筹集了18亿美元。

These cases highlight the increasing scrutiny that cryptocurrency companies are facing from U.S. regulators. As the cryptocurrency industry continues to grow and evolve, we can expect to see more cases and settlements brought by the SEC and CFTC.

这些案件强调了加密货币公司正在美国监管机构面临的越来越多的审查。随着加密货币行业的不断发展和发展，我们可以期望看到SEC和CFTC带来的更多案件和定居点。

Tether’s reserve assets include some compliant holdings that would satisfy the proposed U.S. rules and others that would not. Among the non-compliant assets are Bitcoin and secured loans, which are used to back part of Tether’s stablecoin.

Tether的储备资产包括一些合规的持股，这些股份可以满足拟议的美国规则和其他不承担的规定。在不合规的资产中，有比特币和有抵押贷款，用于支持Tether的Stablecoin的一部分。

If Tether were to apply for a U.S. money transmitter license, it would fall under federal regulation due to its size and market share. However, applying for a U.S. banking license would place it subject to state-level regulations.

如果系绳要申请美国货币发射机许可证，则由于其规模和市场份额，它将属于联邦法规。但是，申请美国银行许可将遵守州级法规。

Despite past regulatory challenges, Teher is moving toward greater compliance. The company now manages reserves with Cantor Fitzgerald & Co to aim for stronger financial transparency.

尽管有过去的监管挑战，但泰尔仍在朝着更大的遵守措施迈进。该公司现在管理Cantor Fitzgerald＆Co的储备，以提高财务透明度。

To enhance credibility further, Tether is working toward a full audit by a Big Four accounting firm. This contrasts with prior no-audit status and aligns with broader efforts to boost trust in the cryptocurrency sphere.

为了进一步提高信誉，Tether正在努力进行四大会计师事务所的全面审核。这与先前的无审计状态形成鲜明对比，并与更广泛的努力相吻合，以增强对加密货币领域的信任。

After a period of rapid growth, Tether’s main growth will continue in international markets, especially among unbanked populations, the company said. Its stablecoin is used to address payment needs in regions with limited access to traditional banking services.

该公司表示，经过一段迅速的增长，国际市场，尤其是在没有银行银行的人口中，系绳的主要增长将继续下去。它的Stablecoin用于解决对传统银行服务访问权限有限的地区的付款需求。

This focus on emerging markets and unbanked populations differentiates Tether from potential competitors who are concentrating more on serving developed financial systems.

这种专注于新兴市场和无银行人口的关注与潜在的竞争对手区分开来，这些竞争对手更多地专注于为已发达的金融系统服务。

Currently, Tether does not serve U.S. customers but is engaging with U.S. regulators to comply with new rules. The company plans to issue a new stablecoin version aligned with legislative requirements and attract institutional users.

目前，Tether不为美国客户提供服务，而是与美国监管机构互动以遵守新规则。该公司计划发布一个与立法要求一致的新稳定版本，并吸引机构用户。

This approach reflects a dual strategy of international focus and readiness for possible U.S. market participation.

这种方法反映了国际重点和准备的双重策略，以实现美国市场参与。

Major U.S. banks are exploring their own stablecoin initiatives, but Tether maintains that these efforts are focused on the Western market.

美国主要银行正在探索自己的稳定倡议，但系塞特坚持认为，这些努力集中在西方市场上。

According to Tether’s leadership, the company’s primary customer base lies outside of these regions, hence the company’s emphasis on foreign markets. As the U.S. enacts stablecoin laws

根据Tether的领导，该公司的主要客户群在这些地区之外，因此该公司对国外市场的重视。随着美国制定稳定法律