With Trump in power, foreign cryptographic companies make breakthroughs in the United States

Last month, Paolo Ardoino, the managing director of the Cryptocurrency company Tether, joined business leaders and American legislators for a private lunch in Willard, a luxury hotel near the White House.

For years, Tether had faced charges that he had lied about his finances and allowed the crime to prosper on his platform. But at Willard, Mr. Ardodino and other cryptographic leaders were warmly welcomed by Senator Bill Hagerty, a republican of Tennessee in the Senate banks committee, who attended lunch and participated in a group discussion on digital money regulations and national security, according to four people knowing the event.

The episode was a sign of the changing landscape for cryptographic companies while President Trump adopted the industry. Once an elusive operator abroad with few public imprints in the United States, Tether capitalizes on change to establish a presence in Washington.

Since the inauguration of Mr. Trump, Tether has prompted to reshape cryptographic regulations when she plans to start an operation in the United States. The main product of the company is a cryptocurrency known as the Stablecoin, which is designed to maintain a price of $ 1. The attachment is push The Congress influences a Senate bill, presented This year by Mr. Hagerty, who describes the rules for Stablecoins. And he launched a public relations campaign which presented advertisements in a publication of Washington initiates trumpeting His cooperation with American police.

For years, Tether had been considered with suspicion. His stablecoin turned out to be a popular tool For criminals. In 2021, he paid $ 18.5 million to settle An investigation into the fraud of the New York Attorney General.

But a few days after taking office, Mr. Trump, who launched a cryptography company with his sons last year, ended a repression of the Biden administration against digital assets. Cryptographic companies that have once avoided the country, fearing regulatory sanctions, now appreciate astonishing access to the congress and the White House.