Stuart Hoegner, General Counsel of Tether and Bitfinex, has retired, with Michael Hilliard stepping up as his successor. This change comes shortly after the implementation of the European Union's Markets in Crypto-Assets (MiCA) framework on December 30, which has left Tether's US Dollar-pegged stablecoin, USDT, in a state of uncertainty regarding its compliance with the new regulations. Although regulators have not explicitly stated that USDT is non-compliant, there is ambiguity surrounding its status. In December, the European Securities and Markets Authority (ESMA) did not clarify whether USDT was a restricted stablecoin under MiCA. Despite this uncertainty, some exchanges, such as Coinbase, have opted to delist USDT, citing potential compliance issues. Tether emphasizes Hilliard's strategic legal expertise as crucial for navigating regulatory challenges moving forward.

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