Due to the controversy of which Tether has been embroiled into recently, in which it has been alleged that there are coherent manipulation of Bitcoin price and ties to Bitfinex and which is coupled with officials lack of corporation, there is a current probe of Tether by the officials of New York Attorney General, on the premise that Tether is not backed by dollar fully in the past and which was settled with the release of dollar in the next month.
However, the surprising point of all these is that the investigations are coming at a time, when there is public debut Coinbase on NASDAQ and which has shown that as a publicly traded company, it is subject to strict regulations from the regulatory agencies, than as it where in the past.
While the NYAG case was settled, further regulatory complications may arise for the stablecoin. It’s certainly possible that, as a publicly traded company now under the jurisdiction of the Securities Exchange and Commission (SEC), Coinbase may have to delist USDT in the future.
Nonetheless, Coinbase will gradually introduce the stablecoin through three phases: post-only, limit-only, then full-trading. The exchange said that trading will roll out as early as April 26th — if there is sufficient volume or liquidity.