VanEck Digital Asset Strategy Director: The regulatory situation of cryptocurrency in the United States is chaotic

According to the news, Gabor Gurbacs, director of digital asset strategy of VanEck, an investment management company in New York, said on social media that some of the most liquid currency pairs (excluding Binance. US) on Binance were traded in the form of USDT. It is wise for CZ to support USDT. Compared with the stable currency issued by the United States, Tether’s attention to emerging markets may be considered less risky by global Binance users. A win-win situation for Binance users. The regulatory situation of cryptocurrency business in the United States is chaotic, unfriendly and unreliable. No wonder people, companies and exchanges will stay away from American products. Not long ago, owning/using American products was a pride, but today it is more like a responsibility.

Interpretation of this information:

The message discusses the use of USDT (Tether) for trading on Binance, one of the largest cryptocurrency exchanges. Gabor Gurbacs, the director of digital asset strategy at VanEck, suggests that Binance’s support of USDT is a wise decision due to Tether’s attention to emerging markets, which is considered less risky than stable currency issued by the US government.

This highlights the current regulatory environment for cryptocurrencies in the United States, which is described as chaotic, unfriendly, and unreliable. This has led to a shift away from American products within the cryptocurrency industry, with many companies and exchanges choosing to avoid them.

Overall, this message suggests that Binance’s use of USDT is a smart move, as it provides a win-win situation for its users. The three keywords that summarize this content are: USDT, emerging markets, and regulatory environment.