Tether Hires Former PayPal And Chainalysis Exec To Lead Regulatory Push

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Jesse Spiro, who once headed PayPal’s Regulatory Relations for its Blockchain and Digital Currencies Business, is now Tether’s head of government affairs.

The USDT stablecoin issuer appointed the expert to lead policy and engagement efforts with lawmakers, regulators, and key stakeholders. According to Tether’s CEO Paulo Ardoino, the hire reinforces the company’s “commitment to responsible innovation.”

Tether’s New Executive’s Work Experience

Spiro brings extensive experience and expertise in roles similar to the one he currently occupies in Tether. He spent three years with PayPal, leading regulatory relations in its blockchain and digital currencies arm. He has also served as the Global Head of Threat Finance and emerging Risks for Thomson Reuters and Refinitiv.

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His LinkedIn profile shows that the new Tether executive was Chainalysis’s chief Government Affairs Officer for almost three years. He is an expert in AML/CFT and emerging technologies and risks. Spiro belongs to the U.S. Digital Chamber of Commerce Anti-Money Laundering Task Force, US Chamber of Commerce Human Trafficking Task Force, Intelligence Task Force, and National Security Alliance Threat Finance Task Force.

USDT Stablecoin Issuer Expands Services

The company’s addition comes as Tether seeks multiple expansions across many regions. Last week, it diversified its investment portfolio to include the agricultural sector. It acquired a 9.8% stake in Adecoagro, a major agricultural player in Latin America. This is Tether’s first foray into the agriculture and food industry.

Last month, Tether integrated USDT on Aptos, an emerging Layer-1 blockchain. The focus is to leverage the blockchain’s advanced infrastructure, which boasts low transaction fees and high-speed processing. In the long run, it would bolster the liquidity and accessibility of USDT within the Decentralized Finance (DeFi) ecosystem.

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Tether Pushes Above Regulatory Hurdles

Amidst a series of regulatory hurdles, Tether has established itself as a key player in the financial sector. The United States authorities are currently probing the stablecoin issuer but enforcement action has been levied.

Spiro noted that “Tether plays a significant role in the current and future development of the digital economy and U.S. dollar hegemony. The ever-evolving legislative and regulatory landscape will continue to require strong collaboration between the public and private sectors.”